The role and position of the Innovation and Prosperity Fund in the development of the knowledge-based economy

The foundations of a knowledge-based economy are innovation, technology research and development, which is a costly and risky activity. Given the high cost and risk of technology development, the private sector alone can not do this, and therefore, governments in different countries have developed various institutions and mechanisms to finance innovation. In Iran, about 10 years ago, the discussion of the formation and development of the knowledge-based economy began with the adoption of the "Law on Protection of Companies and Knowledge-Based Institutions and Commercialization of Innovations and Inventions" and an Innovation and Prosperity Fund was set up to finance these companies. In this article, we take a look at the legal basis for the formation of the Innovation and Prosperity Fund and the various approaches and services of this fund in order to support innovation and technology development and thus the realization of the knowledge-based economy in the country.