According to the public relations and information center of the Vice-Presidency for science and technology affairs, Sorena Sattari, the vice president for science and technology affairs, stated on the acceptance ceremony of the venture capital of University of Tehran in stock exchange: one of the important parts of ecosystem of entrepreneurship is how to financially support startups and knowledge-based companies. However, this financial support has always been interpreted as loans, which has caused serious damages to this type of businesses.

Sattari regarded research funds and venture capitals as the proper models for financial support of startups and knowledge-based businesses, expressing: creation and acceptance of venture capitals with the cooperation of the stock exchange market of Iran have been seriously followed up in the past few years to realize the components of ecosystem of innovation and entrepreneurship. Today, while the fifth venture capital is formed in stock exchange market, 13 funds have completed their documents and are ready to enter the market.

President of the national elites foundation pointed out the significant increase of capacities of banks in presenting loans to large knowledge-based companies, affirming: while banks have no knowledge about the nature and mechanism of startups and service knowledge-based companies, they can significantly help knowledge-based companies that have the ability to pay back the facilities due to their high experience in providing loans.

The vice president for science and technology affairs also asserted: fortunately, the barrier to the financial support of startups has been broken by entrance of universities and the stock exchange market to this field. In addition, the culture of support of creativities, which has an old age in the history of the country is followed up by a new method and based on the modern financial mechanisms.

The vice president for science and technology affairs emphasized the culture building of support of local businesses, stating: strengthening of many non-local startups is the consequence of inappropriate culture of lack of support of domestic activists.

He added: in an area that foreign businesses (e.g., some messengers) act freely but domestic counterparts are faced with various problems, local knowledge-based businesses will have no chance to compete with international brands.

Sattari considered lack of attention to domestic businesses the result of improper culture and misunderstanding, claiming: low-quality foreign products are easily imported and have their customers. In addition, there is a lack of proper space for local businesses and activities. All of these are related to the dominant culture of the country, which is lack of support of Iranian entrepreneurs, which must be corrected.

President of the national elites foundation regarded local service businesses and startups the most effective fields for return of elites to the country.

In this regard, he stated: currently, there are more than 3500 knowledge-based companies and thousands of startups in the country, which have been able to highlight their role in economic advancement of the country.

According to this report, the acceptance ceremony of the first venture capital of University of Tehran with the sign of Tehran one as the first academic venture capital, was held in the presence of the vice president for science and technology affairs, head of the University of Tehran, chairman of the securities and exchange organization, and representatives of financial support agencies. This venture capital will initiate its activity in the area of financial support of academic and technological ideas.