In the meeting of venture capital funds, the vice president for science and technology affairs stated: one of the most important weaknesses in the entrepreneurial ecosystem of Iran is lack of venture capital. We need to understand we betray startups by giving them loans.

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, expressed on the meeting of venture capital funds, which was held in Pardis technology park in the presence of members and representatives of D8: during the first days of starting our startups, we ordered a research by active youth of the Silicon Valley, which yielded relatively coherent results. The main questions raised in this study were why Silicon Valley only exists in California? Why isn’t there one in the Europe? Why such an organization has not been established in a city like Dubai, which had the goal of establishing a Silicon Valley 30 years ago?

Sattari regarded lack of venture capitals as one of the weaknesses in the entrepreneurial ecosystem of the country. He affirmed: we need to realize that we betray startups by providing loans for them. The Vice-Presidency for science and technology affairs has given loans to more than two thousand companies through affiliated funds. However, their adverse effects are observed today since the majority of these companies have failed and must return the money.

The vice president for science and technology affairs introduced the information technology area as a field for acceptable growth of startups.

Universities Can Turn into Economic Peaks of the World with the Help of Startups

President of Iran national elites foundation expressed his satisfaction with lack of provision of loans in universities, adding: we have created a new structure which is development without the impact of government money.

He regarded this issue to be essential for creation of new infrastructures, stating: what has happened in the stock exchange field has given us the hope that the stock exchange of Iran could be turned into a larger version of itself.

In addition, the vice president for science and technology affairs marked: today, most of large investors invest in startups instead of cement and steel.

He also conveyed: many students, who have established or worked in startups of Iran, have come from these universities. While they had monthly salaries of about 500-600 thousand dollars, they returned to Iran, which is indicative of the possibility of earning higher incomes in Iran.

International Investor Is a Cultural Phenomenon in the Startup Ecosystem of Iran

President of national elites foundation expressed his hope in increased cooperation between Iran and foreign investors, noting: welcoming of foreign investors is not for their money. In fact, this is a cultural phenomenon in establishment of our desired ecosystem. Money is abundantly found in Iran. If an appropriate ecosystem is formed, all people and investors will spend their assets in this field.

Sattari continued: most of investors wish to buy startups. However, they must realize that they must act as venture capitals and invest in some startups to achieve success. Therefore, young individuals with failed ideas are not obligated to pay back loans.

He expressed his hope in the success of the conference, stating: we need to make good relations in interactions with foreign investors. This area is a relatively new field in the country and requires more development.

The vice president for science and technology expressed the preparedness of the government in creation of the infrastructures in the recent years to be provided for foreign investors. In this regard, he added: our role is facilitation of this field and not interfering with the market. We only need to expand the communicative and cultural infrastructures.

The New Mission of Pardis Technology Park Is the City of Tehran

Sattari has assigned a new mission to Pardis technology park of the Vice-Presidency, which is effectiveness and activities in all Tehran province. He asserted: the future of this city depends on technology.

President of Iran national elites foundation expressed his hope to create a new culture in Tehran for establishment of a larger economy, conveying: it is ok for the municipality of Tehran to think that they could earn a percentage of their income by investing in accelerators. In addition, cultural phenomena occurring in the worn-out texture of the city is massive.

At the end, Sattari marked: we hope that an appropriate investment network is formed in the country and more success could be achieved in future conferences.