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More Funds to Help Reinforce Iranian Technology Ecosystem

The Iranian government has injected 30 trillion rials ($111 million) into the Iran National Innovation Fund to expedite the technology ecosystem’s development
More Funds to Help Reinforce Iranian Technology Ecosystem
More Funds to Help Reinforce Iranian Technology Ecosystem

The government has injected 30 trillion rials ($111 million) into the Iran National Innovation Fund to strengthen the domestic knowledge-based ecosystem.
Aside from the capital injection, the fund has been granted the legal authority to partner with various sectors of the domestic capital market and support the growth of knowledge-based firms, Tasnim News Agency reported.
INIF is the state’s arm for providing the growing technology ecosystem with financial aid. The government of former president, Hassan Rouhani, established the fund with an initial investment of 30 trillion rials ($111 million). As per the law, the government is required to allocate 0.5% of its annual budget to INIF.
Esfandiar Ekhtiari, chairman of Majlis Research and Technology Commission, said the funding has followed the formation of a “knowledge-based management council” chaired by President Ebrahim Raeisi.

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