Allocation of 1,500 billion Rials to support cultural and artistic startups – RCO News Agency

According to Mehr news agency, Seyyed Mehdi Sadat Hayatshahi, secretary of the investment event of the National Festival of Creative and Cultural Industries of Iran, announced this news and said: In the investment section of this festival, 130 teams from all over the country sent their pitch decks to the secretariat. The environment was active.

Explaining the process of holding this event and attracting funds for the companies, technology units and start-ups present, he added: After the announcement of the initial results, the mentoring process was held online for the successful teams, and with the start of the festival in Chabahar, intensive courses of training and face-to-face mentoring continued with the aim of improving the quality of presentations and preparation for negotiations with investors and judges.

The secretary of the investment event of this festival continued: In this event, 20 investment companies including Creative Industries Non-Governmental Research and Technology Fund, Barkat Foundation, Arvand Corporate Venture Research and Technology Fund, Gilan Province Research and Technology Fund, Crimea Non-Governmental Research and Technology Fund, Imam Reza International Foundation, Islamic Propaganda Organization Omid Holding, Culture and Art Development Assistance Institute, Chabahar Free Zone Organization, Iranian Entrepreneurship and Innovation Development and Bad Saba Group were present. A total of 84 specialized B2B meetings were held between the present teams and investors, which laid the groundwork for the formation of serious negotiations to attract capital and develop future cooperation.

He said: During this event, Daneshbanian Barkat Company finalized the investment and definitive facilities of 175 billion Rials. Also, the Ministry of Sports and Youth also provided a support package worth 1,000 billion Rials (with a ceiling of 10 billion Rials for each team) in the form of facilities, and a total of more than 1,500 billion Rials were allocated by domestic investors to support companies, technology units, and cultural and artistic startups.

Sadat emphasized: Creative Industries Research and Technology Fund, as the host of the investment event of the National Festival of Creative and Cultural Industries, will intensively follow the exchange of information and negotiations until the agreement between the investors and the selected teams is reached, and the investors are holding final meetings to conclude contracts.

The CEO of Creative Industries Research and Technology Fund described the creative and cultural industries festival of Iran, which was held with the aim of strengthening the ecosystem of creative industries, facilitating the capitalization process and creating an effective link between innovative ideas and investors with the participation of Creative Industries Research and Technology Fund, as very effective in the development of the country’s creative industries ecosystem and added: the investment section, as one of the most important elements of the festival, was the basis for practical interaction between creative teams and financial players in this field.

Winners of the capitalization section of the National Festival of Creative and Cultural Industries of Iran

Sadat Shahi further said: In the closing ceremony of the creative and cultural industries festival, with the presence of officials, artistic and cultural activists, technologists, creative companies, investors and students of cultural centers of universities across the country, it was held in the international conference and exhibition center of Chabahar Free Zone, the winners of the capitalization section of this festival were introduced and honored:

He added: Based on indicators such as the degree of innovation of the idea compared to existing examples, active and effective presence during the event, being a learner, the ability to attract investors, commitment and motivation of the team, the technical and operational feasibility of the idea, the scalability of the business model and the market development capacity, three teams were nominated as “chosen” and one team as “chosen” as follows:

“Kasab” application (Samansazan Kasab) represented by Mrs. Pegah Hashemi was introduced as the selected team.

“Fantuction Games” studio with its platform game and Monopoly product represented by Ms. Satishnejad Mohammad, “Anati” craft team represented by Ms. Maryam Merati and “Taste of My Design” design group represented by Ms. Hasna Lotfi were honored as the selected teams of this section.