Special fund to finance technological projects in underprivileged areas

August 19, 2018 - 21:38

TEHRAN – The innovation and prosperity fund, affiliated with the presidential office, will support technological projects in underprivileged areas of the country, the fund’s head Behzad Soltani said, Mehr reported on Saturday.

The fund will provide finance for the plans through long-term loans so that they can commercialize their knowledge-based projects, he explained.

The fund prioritizes the importance of projects, which are planned for underprivileged areas and reduce severity in the process, he added.

The knowledge-based companies established in underprivileged areas should do above 70 percent of their activities in that place, otherwise the fund does not support it, he said.

“So far we verified two projects in Lorestan and Sistan-Baluchestan provinces,” he explained.

The fund also supports two technological projects at the Kermanshah Province, after the earthquake on November 12, 2017, he concluded.