In the first six months of this year, the Presidential Innovation and Prosperity Fund has provided $173 million of facilities and guarantees to knowledge-based companies.
According to Iran digital eeconomy annotation, the Innovation and Prosperity Fund published a report on its six-month performance this year and announced that during this period it has provided more than 9 thousand billion tomans of various financial services, including facilities, guarantees, investment and empowerment to knowledge-based and technological companies. This figure was $107 million last year.
$96 million facilities
By the end of September 2024, the Innovation and Development Fund, in cooperation with the banking network, has provided $96 million of loans to knowledge-based companies. Last year, from the beginning of April to the end of September, $62 million of facilities were provided to the knowledge foundations. This amount has increased by more than 54% this year.
$77 million guarantee
In the first six months of this year,$77 million worth of contract and credit guarantees were provided to knowledge-based companies in 508 cases, which has grown by 75.5% compared to the same period last year. This amount was $44 million in the first six months of last year. These guarantees have been granted to academic institutions in two sections: “contract guarantee” and “credit guarantee” and in 6 formats: “good performance”, “credit”, “advance payment”, “guarantee deduction”, “customs” and “participation in the tender”.
Facilities by industry
According to this report, among about 10 fields of technology, the field of advanced materials and products based on chemical technologies received the most facilities from the Innovation Fund with $25 billion.
The fields of machinery and advanced equipment are also with $18 million, electricity and electronics, photonics, telecommunications and automatic systems with $15 million, information and communication technology and computer software with $12 million, drugs and advanced products in the field of diagnosis and treatment with $9 million, biotechnology, agriculture and food industries with $6 million, commercialization services with $4 million, medical devices, necessities and equipment with $3 million and cultural industries, creative industries and humanities and social sciences with $105,000.
The Innovation Fund provides more than 80 services to knowledge-based companies, an important part of which is classified in the field of facilities.
The Innovation and Prosperity Fund has also announced the amount of its various facilities separately. According to the announcement of this fund, during the mentioned period, $51 billion of production growth facilities,$13 million of employment development facilities and $15 million of industrial production activities facilities have been granted to companies from the location of paragraph b of note 18.
During this period, leasing facilities (installment sales) in the amount of $4 million, employment development from the point B of Note 18 of 2023 (Technology) in the amount of $3 million, and basic facilities of research and technology funds in the amount of $2.7 million are available to the knowledge bases.
No Comment! Be the first one.