According to PGPIC, the fund will identify and support investment
opportunities that align with the company’s strategic goals.
Speaking at the inauguration ceremony, Mohammad Shariatmadari stated
that all subsidiaries of PGPIC are required to collaborate with the fund in
research and development (R&D) efforts. He emphasized that 2% of the
subsidiaries’ revenues should be allocated to R&D.
“The fund’s primary mission is to identify production programs aligned
with the objectives of the petrochemical industry,” Shariatmadari said. “PGPIC
fully supports this initiative and will spare no effort in ensuring its
success.”
The venture capital fund will focus on evaluating and investing in
high-value development projects, adopting a demand-driven approach to address
industry needs.
Under the “Production Leap Law,” which serves as a major framework for
supporting knowledge-based enterprises, manufacturing companies can allocate a
portion of their taxes to R&D projects via the CVC fund. This mechanism
enables petrochemical companies to invest in startups and technology firms
through tax credits.
The launch event was attended by Mohammad Sadegh Khayatian, head of
the Presidential Innovation and Prosperity Fund; Mohammad Shariatmadari,
PGPIC’s CEO; and Sorena Sattari, scientific and technology advisor to PGPIC.