Innovation Fund Prioritizes Strategic Development in Pharmaceuticals, Medical Equipment, and Key Industries
According to the Economic Desk of Webangah News Agency, Asgah Noorallazadeh, during the closing ceremony of the national event ‘Ta Soraya Award,’ confirmed the commencement of operations for the Pioneers Fund, which has been established with 400 billion Tomans, positioning it as one of the nation’s largest research and technology funds dedicated to providing financial backing to technology-driven and knowledge-based companies.
Noorallazadeh expressed optimism that this fund will effectively support companies, facilitating the transition of ideas into tangible products and the commercialization of knowledge-based outputs, much like established technology ecosystem development holdings. He underscored the vital role of specialized national events in fostering the technology ecosystem, noting they offer essential opportunities for identifying promising ideas, empowering teams, and cultivating new capacities.
He added that the Pioneers group has taken the lead in this area, expressing hope for the expansion of such events in the coming years to identify capable teams and prepare them for the commercialization stage of technological processes and products. Noorallazadeh stressed that empowering technological teams through financial support is crucial for them to exert a more significant impact on national technological advancement, viewing specialized events as invaluable steps toward nurturing the technology ecosystem.
The President of the Innovation and Prosperity Fund highlighted that specialized events across various crucial fields, including food security and strategic projects, serve as prime opportunities for discovering innovative teams and concepts. These platforms enable investment and financial backing for capable teams, thereby smoothing the path for the commercialization of knowledge-based products. Such specialized forums aid in standardizing processes, pinpointing strengths and weaknesses, and boosting investment capacity, while connecting investors directly with ideas and teams reduces decision-making risk and enhances subsequent investment potential.
Addressing the role of youth and academia, Noorallazadeh noted that these events elevate the culture of entrepreneurship and technological development, encouraging young innovators to present creative ideas, as they now have a clear avenue for visibility and financial support. The Pioneers Fund, representing the Innovation and Prosperity Fund, is equipped to offer investments and facilities to top-tier ideas to sustain the momentum of technological development and entrepreneurship. Technology parks, including those at Sharif University of Technology and across various provinces, play a supporting role in enabling national-level capacity expansion. Current fund policies concentrate on establishing national competitive advantages and targeting knowledge-based businesses to maximize domestic capabilities in these areas.
The head of the Innovation Fund further emphasized support for knowledge-based enterprises across all maturation stages—seed, embryonic, and growth. He specified a particular focus on large-scale companies operating in areas of national competitive advantage, such as the oil, gas, and petrochemical sectors. The objective is to fully localize the required equipment and technologies in these sectors so that Iran achieves technical expertise regionally and globally. All necessary design, implementation, and equipping of regional refineries and petrochemical units must be accomplished utilizing domestic capacity.
Noorallazadeh calculated that concentrating on these sectors could yield hundreds of billions of dollars in economic benefits. Therefore, directing and supporting knowledge-based companies to produce advanced technologies and connecting startups with large corporations remains a principal strategy. Through holdings and financial backing, technology firms and startups can manufacture required software, hardware, and components for industrial units, which helps mitigate risk, improve efficiency, and enables leading national companies to expand internationally.
He confirmed that focusing on competitive advantages and domestic technology development is the primary strategy for national security space and vital industries, aiming to create synergy between startups and anchor companies to strengthen the national innovation and technology ecosystem. Regarding early-stage ventures (seed and embryonic), mechanisms have been designed to effectively support nascent ideas and businesses. He invited the Pioneers group to participate as shareholders in seed and charity funds to empower these ventures.
The ultimate goal is to ensure that startups and initial ideas receive necessary financial backing for the continuous advancement of technology within the country. Noorallazadeh also identified pharmaceuticals and medical equipment as strategic national priorities, confirming significant investments are underway for vital medicines, including insulin, plasma, regular powdered milk, and various medical devices, especially within the coming year’s plan. He called upon companies and the Pioneers Fund to leverage financial capacities and tax exemptions to participate in domestic drug and medical equipment production, aiming to minimize reliance on imports for essential raw materials and frequently used medicines.
The President of the Innovation and Prosperity Fund concluded by stressing that these efforts will deepen national technological capabilities, with the three-year plan focusing on expanding the technology ecosystem through dedicated support for specialized funds and knowledge-based companies.
