Iran Govt. Supporting Knowledge-Based Firms Involved in Coronavirus Fight

Iranian knowledge-based companies engaged in the battle with COVID-19 are receiving special support and funds from the Innovation and Development Fund, an official says.

The Iranian government has devised plans for providing rapid financial support for the technological products used in the fight against the spread of the contagious disease, a senior official says.

According to Chairman of the Innovation and Development Fund of Iran Ali Vahdat, after a public call for the domestic industries to take part in the national battle with novel coronavirus, more than 400 projects and plans were presented by the knowledge-based and technological companies.

The top projects were selected and priorities were set in coordination with the Science and Technology Parks, the Research and Technology Funds, the Health Ministry, the Vice Presidency for Science and Technology, and the Ministry of Information and Communications Technology, he noted.

Vahdat added that the Innovation and Development Fund finally decided to provide funding for 32 companies producing disinfectants, 13 companies producing masks, three companies manufacturing coronavirus diagnostic test kits, five companies making disinfection machinery, 16 enterprises manufacturing medical equipment such as anaesthetic machines for surgery room, oxygen generators and medical ventilators, and five companies developing software for monitoring, controlling and informing.

A total of 32 local companies have been able to produce more than two million litres of disinfectants after the outbreak of coronavirus under the auspices of the Innovation and Development Fund, he added.

It is estimated that 16 domestic companies in the medical industry will be producing 90 million gloves, 100,000 hospital gowns, 1,000 oxygen generators, 100 medical ventilators, and 100 anaesthetic machines for surgery room, Vahdat noted.

Three Iranian knowledge-based companies are planned to produce 360,000 test kits by May 20 and put them on the market, he added, saying 13 other companies are also scheduled to produce 1,250,000 masks per month.

The official finally noted that the Innovation and Development Fund would provide “emergency working capital financing” to assist the businesses harmed by the outbreak of coronavirus.

A sum of 500 billion rials has been allocated to eight companies providing Internet services that have been hit hardest by the COVID-19 epidemic, he added.

Vahdat further noted that some 1.25 trillion rials have been offered to Iranian companies actively involved in the fight against the coronavirus epidemic.

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