Ali Bahadori Jahromi announced a new government resolution aimed at issuing guarantees in favor of research and technology funds, and during his presence, the first memorandum of understanding with the largest research and technology fund was signed at INOTEX 2024.

According to the INOTEX 2024 newsroom, on the fourth day of the International Technology and Innovation Exhibition (INOTEX2024), with the goal of creating a platform for issuing government currency guarantees for the knowledge-based and technology sector to attract foreign currency investment, a memorandum of understanding was signed between the Export Guarantee Fund and the New Technologies Development Fund.

The ceremony was attended by Ali Bahadori Jahromi, the government spokesperson; Seyed Mehdi Yousefi Nejad, Deputy and Vice President of the Export Guarantee Fund of the Ministry of Industry, Mine and Trade; Mehdi Saffari Nia, Head of Pardis Technology Park; Seyed Rouhollah Miraamini, CEO of the New Technologies Development Fund; and a number of deputies and managers of these institutions.

The Export Guarantee Fund became the backbone of research and technology funds.

Ali Bahadori Jahromi, the government spokesperson, referring to the effective interaction of these two funds in creating a new export path for the technology and knowledge-based sector and attracting foreign investment, said: “The government is also pursuing the creation of such platforms with new resolutions to smooth the path for the export of knowledge-based and technological products and attract foreign investors.” He announced the recent government resolution for better role-playing of the Export Guarantee Fund and more government support for the export of knowledge-based products, adding: “With the recent government resolution, the Export Guarantee Fund can issue guarantees in favor of research and technology funds. This resolution provides the ground for more support from the Ministry of Industry, Mine and Trade for export investment in the knowledge-based and technology sector.”

Supporting non-oil exports in the field of innovation; the new mission of the Export Guarantee Fund

Seyed Mehdi Yousefi Nejad, Deputy of the Export Guarantee Fund of the Ministry of Industry, Mine and Trade, referring to the capacities formed in the New Technologies Development Fund in financing the technology sector and the memorandum of understanding between these two funds, said: “The main mission of the Export Guarantee Fund is to support non-oil exports and facilitate the use of foreign currency and rial resources for the export of goods and cover the risk of buyers and foreign investors. In this regard, today we have had a good memorandum of understanding with the New Technologies Development Fund to implement this important mission in the knowledge-based field as well.”

He considered cooperation in the field of currency-rial crowdfunding of the New Technologies Development Fund as one of the important parts of this memorandum of understanding and added: “The aggregation of small foreign currency and rial capitals by the new crowd fund of this fund named (Novin Crowd) and the use of these resources for export-oriented knowledge-based projects will develop export capacity. Based on this, as the Export Guarantee Fund of Iran, we are ready to issue the necessary guarantees and assurances to knowledge-based companies and other exporters active in this field whose plans will lead to the export of goods in the future.”

Yousefi Nejad, regarding the share of knowledge-based and technology companies from the customers of the Export Guarantee Fund, noted: “The share of the Export Guarantee Fund from guaranteeing knowledge-based companies has been small in recent years, but due to the supportive resolution approved by the board of directors of this fund in recent months, a good movement has occurred.”

The New Technologies Development Fund; the strategist of foreign currency investment of the Export Guarantee Fund in the field of innovation

Mohammad Kolahi, Deputy of Credit and Commercialization of the New Technologies Development Fund, regarding this memorandum of understanding, said: “The memorandum of understanding that was signed today in the presence of the government spokesperson between the New Technologies Development Fund as the leading fund in the country’s technology sector and the Export Guarantee Fund as the government fund responsible for exports under the Ministry of Industry, Mine and Trade, opens a new window for issuing export guarantees for knowledge-based companies.” He explained some of the provisions of this memorandum of understanding and noted: “This cooperation is about issuing currency guarantees for customers and knowledge-based and technology companies that are introduced by the New Technologies Development Fund to the Export Guarantee Fund and will soon become operational with the issuance of the first guarantees.”

He added, referring to the creation of the country’s first currency-rial crowdfunding platform named Novin Crowd by the New Technologies Development Fund: "The constant concern of foreign investors is that their principal capital is guaranteed by a reputable institution so that they are encouraged to invest in the knowledge-based and technology sector while alleviating their concern. Therefore, with the approval of the first principle, the country’s first collective financing platform for foreign currency and rial by the New Technologies Development Fund

It will soon start its activities with the unveiling by the respected Minister of Economy.

Kolahi noted: “The unveiling of this platform and the memorandum of understanding with the Export Guarantee Fund will alleviate this concern for foreign currency investors, both domestically and abroad. In this way, foreign investors, through the guarantee issued by the Export Guarantee Fund for the capital recipients to the beneficiary of the Novin Crowd collective financing platform, will ensure the preservation of their principal capital and the possibility of worry-free investment in knowledge-based projects by them.” He reminded: “This cooperation has taken shape for the first time in the country, and with this important event, the possibility of collective financing and guaranteeing investment for foreign investors has been created so that they do not have to worry about the risk of foreign currency investment in these projects. In addition, the New Technologies Development Fund, by virtue of this memorandum of understanding, will become the strategist and GP of the Export Guarantee Fund in foreign currency and rial investment in the technology sector with high returns and guaranteed principal capital.”