TEHRAN - Deputy chief of the Astan Quds Razavi (AQR), Iran’s second largest charitable trust, Malek Rahmati has said that trust increased its financial support for startups and science-based initiatives in the country.
Rahmati said the trust has been providing financial support to a total of 66 scientific projects launched by startup companies in recent years.
Rahamti made the announcement at the start of an exhibition to display AQR’s achievements in the field of science-based economy.
Based in the northeastern city of Mashhad, the AQR is in charge of running the holy shrine of Imam Reza (AS) and its affiliated organizations. The charitable trust, which controls massive sources of endowments, has in recent years redirected many of its funds to science and research projects, especially those in the field of pharmaceuticals.
Experts say AQR companies have successfully developed solutions to help Iran overcome shortages caused by US sanctions in the field of medicines and medical equipment.
Rahamti said AQR companies have become more active in agricultural development by investing in the production of seeds and saplings that used to be supplied to the Iranian farmers from abroad.
He also said the AQR aims to expand its digital economy activities by creating financial technology companies.
AQR startups unveiled their latest achievements in the event held on Saturday, which was attended by the trust’s chief Ahmad Marvi. Those on display included several new drugs, varieties of seeds, software developed for business purposes and innovative solutions for construction industry, according to a report on the trust’s website.
Marvi, who is appointed directly by the Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei, said during the event that the AQR will continue to provide support to scientific and research projects as a matter of national and religious pride.