The meeting of the Commission on Research and Technology Funds was held on August 30, 2025, with the presence of Dr. Esfandiar Ekhtiari, Deputy for Policy and Development of the Vice-Presidency for Science and Technology and Secretary of the Steering Council for Knowledge-Based Technologies and Products. The session was convened to review the obstacles and challenges facing Research and Technology Funds, where commission members presented their perspectives and raised the key issues of this sector.
As a specialized body of the Association, the Commission on Research and Technology Funds was responsible for addressing and following up on matters related to these funds. In this context, it created a platform for dialogue and direct interaction between representatives of the funds and the Vice-Presidency for Science and Technology. Given that Research and Technology Funds represent one of the key pillars of the innovation financing system in the country, playing a pivotal role in supporting technology-based and knowledge-based enterprises, the review of their challenges and barriers was of not only operational significance for the funds themselves but also strategic importance from a broader policy-making perspective in advancing the national innovation and technology ecosystem.
During the meeting, the following issues were discussed by commission members:
- Non-acceptance of guarantees issued by certain governmental and semi-governmental entities and related restrictions in the over-the-counter (OTC) market.
- Difficulties in obtaining knowledge-based enterprise licenses and associated benefits.
- The need to enhance the level of interaction between the Vice-Presidency for Science and the Research and Technology Funds.
- Challenges arising from the involvement of supervisory bodies such as the General Inspection Organization and the Supreme Audit Court, and the necessity for these entities to gain familiarity with the role and responsibilities of the funds.
- Proposals to activate legal mechanisms enabling private investors to benefit from tax credits.
- Emphasis on the enforcement of Articles “A” and “P” of Clause 12 of the Law on Supporting Knowledge-Based Production to ensure that the funds can benefit from financial and supportive incentives.
Dr. Ekhtiari, while expressing appreciation for the activities of the commission and the Research and Technology Funds, highlighted the importance of the role these funds play in advancing the technology and innovation ecosystem. He outlined the following key points in his remarks:
- The necessity of categorizing funds based on current conditions and ensuring the active participation of the commission in developing the related criteria under the supervision of the Secretariat of the Working Group on Funds.
- The need for promotional and educational events by the Association of Research and Technology Funds to raise awareness of legal and supportive capacities, particularly within the framework of the Knowledge-Based Production Leap Law.
- Full support for enabling the funds to benefit from the Knowledge-Based Production Leap Law, along with the call for practical and actionable solutions that do not require legal amendments.
- Emphasis on strict compliance with regulations by the funds and the avoidance of violations that could undermine the credibility of these institutions.
This meeting was held as part of the ongoing cooperation between the National Association of Venture Capital and the Vice-Presidency for Science and Technology. The Association has consistently sought to act through its specialized commissions as a bridge between innovation ecosystem stakeholders and policy-making bodies. This process has remained one of the Association’s main priorities. The meeting represented an important step toward structured engagement between the Research and Technology Funds and the Vice-Presidency for Science and Technology, paving the way for continued collaboration and the follow-up of resolutions at higher policy-making levels. It also provided an opportunity for exchanging views between fund representatives and the Vice-Presidency, and it was agreed that joint efforts to identify and address existing challenges would be placed on the agenda.
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