TEHRAN – Some 19.5 trillion rials (about $6.5 million) have been invested so far in 70 innovative projects through crowdfunding, the practice of funding a project or venture by raising money from a large number of people, typically via the Internet.

The projects are mainly in the fields of computer sciences, agriculture, medicine, and pharmaceuticals, IRNA quoted Alireza Daliri, an official with the Vice Presidency for Science and Technology, as saying.

The Global Innovation Index in Iran from 2015 to 2019 has risen from 106 to 61 with continuous improvement, showing 45 steps of growth.The Global Innovation Index in Iran from 2015 to 2019 has risen from 106 to 61 with continuous improvement, showing 45 steps growth.

The development of accelerators and innovation centers over the last five years has led to a rapid increase in startups and knowledge-based companies.

Between 2014 and 2017, exports of knowledge-based goods grew by a factor of five, before slumping in 2018 after the U.S. withdrew from the Joint Comprehensive Plan of Action (2015), commonly referred to as the nuclear deal, and re-imposed sanctions.

The report states that innovation in Iran has developed rapidly over the past five years, and by the end of last year, 49 accelerators and 113 innovation centers had provided services to start-ups with the participation of the private sector.

MG