The head of the Innovation and Prosperity Fund believes that banks cite various reasons for not providing loans to knowledge-based companies, including the claim that a 28% interest rate on interest-free loans is not profitable. According to him, this excuse is completely false
According to Iran digital economy annotation, Mohammad Sadegh Khayatian, the head of the Innovation and Prosperity Fund on the sidelines of the work and employment event, considered the non-cooperation of banks to pay facilities to knowledge-based companies as a historical problem and identified three factors as effective in this regard. Khayatian told the reporter: Some banks trusted and came forward with this formula, and some did not. One problem is that usually companies have difficulty in securing collateral and banks require property collateral.
Regarding the impact of contractionary policies, he said: Another problem is that this year due to the containment of inflation, the policies of the government and the central bank were contractionary, and the banks were not expected to pay facilities higher than the growth of the balance sheet.
Khayatian also said about the effect of the facility rate: Banks also say that interest-free loans are cheap and they don’t want to give interest-free loans at an effective rate of 28%, which is, of course, completely wrong. The Central Bank determines how much interest-free loan to give based on the resources and performance of the banks. Of course, despite these, the result is positive and the banks have promised to realize at least 50% of the resources this year.
The income of 12.3 Billion dollar of knowledge bases
In the opening ceremony of the work and employment event, which was held in order to network and connect knowledge-based companies with the elite workforce, the vice president of development of the Innovation and Prosperity Fund presented interesting statistics.
Siavash Malekifar said in this ceremony: Knowledge-based companies will soon exceed 10,000. According to the latest statistics, the sales of these companies is 517 thousand billion tomans.
According to him, these companies account for 2.76% of the country’s GDP.
The deputy of the Innovation Fund also said about the facilities paid to these companies: We do not have a budget in the fund and our capital is in circulation. So far, we have paid 55 thousand billion tomans of services in different formats to knowledge-based companies, which is about 20 times our capital in the fund, which was obtained by putting the fund’s capital to work.
Mohammad Ali Zulfi Gol, Minister of Science, also said in this event: This event, which connects elites and knowledge-based companies, is very blessed. The connection between these is important. We also need the presence of elites in the three forces, as well as the private sector. The presence of elites everywhere is a source of good and blessing because elites take the shortest path to achieve results. It is said that scientists are the laziest people because they choose the easiest and most convenient way to reach the goal. With this look, they made the tunnel and the plane. Elites don’t expect much, they just want to be in a place where they can be effective.
Human power, the most important factor in the growth of knowledge bases
The head of Innovation and Prosperity Fund said at the opening of this event: Human power is the most important source of knowledge-based economy growth. If all the factors are collected and this component is not present, these companies will not grow. In developed countries and around us, they pay attention to the issue of human resources and use many incentives to attract human resources. We have this great blessing.
Khayatian continued: There are two main strategies in the employment of elites: entrepreneurship and employment. Both are important, but the issue of technological entrepreneurship is more effective. We at the fund consider this issue as our responsibility. Before this, the fund supported knowledge-based companies in recruiting, but for two years, the budget law has provided the basis for a banking network to provide financing for knowledge-based employment, but the performance of this network is not good. We reported this to the president and the banking network. However, companies that have received funding from banks have benefited.
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