Creative manpower is the pillar of a knowledge-based economy and an economy with a high capacity for job creation, so it is considered the most valuable asset of a country and should be paid high attention.

Today, the role that the creative and innovative manpower play in modern societies is undeniable and the countries know that how much supporting and developing such a source of creativity can bring economic growth for them.

In this regard, the startups come under the spotlight, as they are set up by such manpower.

A look at the global rising trend of investment making in the startups in recent years indicates that how their importance is increasing in the countries’ economies. They are, in fact, becoming some key driving forces for the economies, and therefore, they are now receiving more supports form the governments.

The governments’ all-out support to the startups and laying the ground for them to reach their set targets at the shortest possible time is very important, as such support encourages entrepreneurship in the societies.

Like in many other countries, the role of startups in the national economy especially in job creation has been underlined in Iran in recent years and the Iranian officials are constantly stressing the significance of this role.

“Startup” is now a familiar name in the national economy and for the people, in a way that many of the established startups are not some small companies anymore, while they have been developed so much that they are currently competing with some large companies in the country.

While the startups and their important role in the economy are being more and more recognized, they are receiving more supports as well.

One of the organizations, that have announced their strong support for the startups, is Securities and Exchange Organization (SEO).

In a meeting with the chairman of the Fund for Innovation and Prosperity on May 20, SEO Head Hassan Qalibaf-Asl said, “We are ready to put the models proposed by this fund into action and remove any possible problem in this due.”

“We will investigate the proposed models and make the necessary changes in a way to facilitate the entrance of startups to the capital market”, the SEO head reiterated.

Also in a press conference on June 22, the official said, “We are creating the proper condition for the startups, and we are also planning to introduce an index for them in the stock market.” 

As previously announced, the mentioned index will be introduced in the current Iranian calendar year (ends on March 2021).

While the entrance of the startups in the capital market indicates that they have passed their high-risk time and also shows that they have transparent financial statements, their presence in this market encourages the other companies of this kind to do so and also attracts the trust of the traditional investors.

The stock market providing a regulated marketplace for the startups to sell ownership shares directly to the qualified investors will be a great step especially now that strengthening domestic production has become a serious target in the country.

In a bid to nullify the U.S. sanctions, Iran is determined to boost its domestic production and achieve more and more self-reliance. The previous Iranian year was named the year of “Pickup in Production” and the current year is the year of “Surge in Production”.

When the status of production is planned to be elevated, some new and innovative ideas are surely required, and it again highlights the important role of the startups.

Fortunately, the capital market recently moving in a path of unprecedented growth and development has laid the ground for more and better financing which is a proper opportunity for the startups to secure their required funds.

Welcoming new ideas for the promotion of domestic production, the economy sector is also supporting the companies that initiate innovative ideas, and a major way of support is through the capital market. 

As reported last Friday, some special tax exemptions and some other incentives have been agreed to be offered to the companies that are accepted to the stock market in the current Iranian calendar year.

And, as the stock market plans to introduce the aforementioned index for the startups in this year, a strong presence of these companies in this market is expected to be a contributing factor for boosting domestic production and bringing economic growth for the country.