This act can provide access to better financial and banking services for knowledge-based companies.

The memorandum was signed by Hossein Esfandiari, Deputy of Management Development and Resources, and Mohammad Hossein Moghiseh, the CEO of the Investment Guarantee Fund (for small industries).

During the ceremony, Esfandiari stated: given the fund’s area of activities, we hope that we are able to increase financial services provided to knowledge-based companies with this cooperation.

He also expressed: since the majority of knowledge-based companies’ assets are intangible, they always face challenges when making a request for facilities from banks. Therefore, they need the support of government guarantee funds.

Introducing Services to Knowledge-based Companies

In addition, Rouhollah Estiri, the director general of center for international science and technology development, pointed out the importance of enhancing financial tools in the country, asserting: according to the agreement, the Vice-Presidency will extend efforts to introduce the services of small-enterprise investment guarantee funds to knowledge-based companies, which will lay the foundation for an increased use of these services.

Development of Cooperation

In addition, Mohammad Hossein Moghiseh expressed hope that this agreement would lead to more cooperation in the future.

Pointing out the key role of the Vice-Presidency in developing an innovation ecosystem in the country, he added: the fund is prepared to provide services to knowledge-based companies by using all of its legal capacities. Issuance of various types of guarantees in favor of banks, higher institutions, research and technology funds and other funds active in the country's innovation ecosystem are among the services of the fund.

He stated that the priority of the fund at present is to pay attention to the country's export-oriented companies and knowledge-based companies.

A report by the public relations and information center of the Vice-Presidency for science and technology affairs