Startups based on internet technologies and businesses in the financial field will be empowered by signing a cooperation agreement between the Vice-Presidency for science and technology affairs and Refah Bank.

According to the public relations and information center of the Vice-Presidency for science and technology affairs, in line with the realization of general policies of the economy of resistance, a cooperation agreement was signed by Hossein Esfandiari, the deputy for management development and resources, as the representative of the Vice-Presidency and Mohammad Ali Sahmani as the representative of Refah Bank.

The agreement is signed with the goal of using the capacities of both parties to improve investment and develop technological and knowledge-based services and products in line with the realization of goals of economy of resistance.

On this agreement, the both parties will take on responsibilities such as cooperation in funding and investing on technological and knowledge-based projects and establishing venture capitals, cooperation for using the services and products of knowledge-based companies and technology development funds in areas related to the work of both parties such as fintechs, information technology, blockchain, and advanced technologies in health area.

In addition, providing facilities to knowledge-based companies, especially those in health and financial areas by the national development fund or other sources, and cooperation in line with the formation of an innovation accelerator are other responsibilities of the agreement.

In addition, both parties are obligated to hold joint innovative events (e.g., startup weekend) and use each other’s capacities of applied research to create and improve startups with an emphasis on financial technologies and design of an internet business model in financial and health fields.