Iran setting up committee to regulate startup financing
By Trend
The Iranian Ministry of ICT has set up a special committee to regulate the financial system of startups, the minister said.
Addressing a press conference, Mohammad Javad Azari Jahromi said ministries of culture, finance, as well as the Central Bank are engaged in efforts to come up with a good model for startups.
"We do not have the necessary mechanism for developing startup businesses. There are problems that should be fixed," the minister said, putting special emphasis on the lengthy process of registering startup companies.
In the meantime, he noted, the Intranet (a nationwide network under development in Iran) has the necessary physical grounds to sort things out in regard to startups.
He said the ministry has already conducted a study on the ecosystem that the national network provides for startups, adding the report will be published for the public to use.
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