A strategic dialogue was held between the Innovation and Prosperity Fund (IPF) and the CEOs of Research and Technology Funds (RTFs), attended by a number of senior executives and representatives of organizations active in innovation financing, including the National Venture Capital Association of Iran.
During the meeting, Dr. Mohammad-Sadegh Khayyatian, President of the Innovation and Prosperity Fund, referred to the national motto of the year and announced the Fund’s readiness to design a comprehensive plan for the “National Innovation Financing System” in collaboration with RTFs. He emphasized that achieving the goal of “Production Leap Through People’s Participation” would be pursued through mechanisms such as crowdfunding. He described RTFs as IPF’s strategic allies.
Later in the meeting, Seyed Mohammad-Hossein Sajadi-Neyeri, Chairman of the Board of the National Venture Capital Association of Iran, highlighted the importance of synergy among the Innovation and Prosperity Fund, the Association, and the RTFs. He pointed to three key areas where closer collaboration with IPF could enhance the role of RTFs:
- Advancing the exemption of value-added tax (VAT) on guarantee service fees;
- Connecting RTFs to essential verification and credit scoring systems;
- Revising the co-investment process between IPF and RTFs.
Dr. Khayyatian responded that the revision of the co-investment process is currently underway, and efforts to secure VAT exemption on guarantee fees are actively being pursued.
In another part of the meeting, Dr. Younes Hamidi, Director of the Secretariat of the RTFs Expert Working Group, presented an update on the current status of RTFs. He reported that by the end of 2023, 69 RTFs and 8 corporate venture capital funds were officially licensed, of which 64 were recognized as knowledge-based. Additionally, in 2023, licenses were granted for the establishment of 5 new RTFs.
Following this, Dr. Rouhollah Zolfaghari, Vice President for Financing and Commercialization at IPF, outlined the Fund’s strategic plan for 2024. He stated that the goal is to transform 1,000 early-stage companies into technology-based firms. This initiative is being pursued in cooperation with RTFs and accelerators.
The Chairman of the National Venture Capital Association of Iran reiterated the Association’s role as a facilitator in building effective connections among financing institutions. He also noted the Association’s capacity to document the experiences of venture capital funds and transfer this knowledge to policymakers.
The Association further emphasized its role as a bridge between public and private stakeholders in the innovative investment ecosystem. It expressed its readiness to organize regular expert-level meetings to foster dialogue and collaboration among RTFs, IPF, and other active institutions. The Association also highlighted its ability to identify policy and regulatory bottlenecks in innovation financing and communicate these challenges to decision-makers—contributing to improved operational processes and more effective support policies.
Constructive exchanges among participants focused on strengthening cooperation, streamlining processes, and enhancing financing infrastructure for knowledge-based and startup companies. The meeting concluded with a summary of discussions and a plan to hold regular follow-up sessions with representatives of innovation financing institutions to reinforce inter-organizational synergy.
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