Sci & Tech

$20 Million Loan for Iranian Startups

$20 Million Loan for Iranian Startups$20 Million Loan for Iranian Startups

Iran's National Innovation Fund has offered 2.69 trillion rials ($19.9 million) in loans to help emerging startups flourish during February-May. 
Siavash Malekifar, the deputy head of INIF, said 18 academic institutions across the country have helped INIF identify fast-growing tech teams and facilitate the loan allocation, Peivast news website reported.
In addition to the loans, Malekifar said, "Startup accelerators have also received support, including workspace and technical equipment."
He noted that the fund is footing up to 70% of local accelerators’ operational bill and will offer cheap loans to accelerators. 


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