April 25, 2021 19:06

$3.8m in Loans for New Tech Firms

Some 19% of the loans were paid to curb the impact of coronavirus on startups, 18% to establish business-to-business infrastructures and a similar amount to tech firms offering on-demand services

Iran’s Information Technology Organization, affiliated with the ICT Ministry, has paid 919 billion rials ($3.83 million) in cheap loans to fledgling tech firms in 14 months since January 2019.
Close to 19% of the loans were paid to curb the impact of coronavirus on startups. Loans to establish business-to-business infrastructures accounted for 18% while tech firms offering on-demand services have received another 18% share of the loans, Mehr News Agency reported.
According to ITO, tech units producing modems and smartphones, developing data centers, content developers and data transmission project managers, as well as mobile game and application developers, have received the remaining share of the financial assistance.

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