TEHRAN – Iran supports the cutting-edge technology projects developed by researchers, director of the information technology, communication and cyberspace development council has said.

“These projects are widely provide platforms and services for other projects,” Mohsen Faqihi told IRNA on Saturday.

These projects are innovative and have characteristics which can encourage the private sector for investment, he added.

The council also provide facilities for startups and knowledge-based companies to expand their markets, he said.

“We also aid the active startups with grants and prizes,” he noted.

Faqihi regretted that loans can destroy a startup which should be expanded via investment.

“The investor or accelerator provides smart money for development of the startup and is aware of the situation of startup and suggest plans for its development.”

“The best way for development of a startup is finding an investor,” he said.

However, the knowledge-based companies need financial support to continue their way, he asserted.

SB/MQ/MG