The agreement aims to leverage the scientific and
technological ecosystem of the University of Tehran to address industrial and
technological challenges faced by PGPIC and its subsidiaries, said Seyed
Ahmadreza Alaei, CEO of the PGPIC Corporate Venture Capital Fund.
“This strategic partnership is designed to
combine the financial capacity of research and technology funds with the
academic and research potential of the University of Tehran,” Alaei said. “By
aligning our shared interests, we can accelerate the development of
technologies essential to Iran’s petrochemical sector.”
Under the terms of the agreement, joint projects
will be co-financed by all three parties. PGPIC’s venture fund will contribute
more than 50% of the total investment, while the University of Tehran’s Science
and Technology Park and its Research and Technology Fund will provide the
remaining share.
Alaei said the initiative will also help retain
talented researchers by providing real-world industrial opportunities within
Iran. “When young experts and researchers see they can implement real
industrial projects at home and link directly to the petrochemical market, they
gain stronger motivation to stay and contribute locally,” he said.
Ali Asadi, head of the University of Tehran’s
Science and Technology Park, described the agreement as a “positive and
influential step” in creating synergy between academia and industry. He noted
that the university hosts numerous professors, researchers, and graduate
students active in fields such as petrochemical technologies, artificial
intelligence, and renewable energy, as well as several knowledge-based
companies capable of supporting PGPIC’s innovation needs.
“Our goal is to create an environment where
talented students and researchers feel that genuine opportunities exist within
the country,” Asadi said. “This collaboration can inspire confidence and
encourage greater participation in solving domestic industrial challenges.”
Mohammad Mehdi Faridvand, CEO of the University
of Tehran Research and Technology Fund, said the agreement represents a
practical model for integrating financial and scientific institutions in
support of the petrochemical industry.
According to Faridvand, the implementation phase
will begin with the establishment of a joint steering committee. The University
of Tehran’s Science and Technology Park will identify eligible technology teams
and startups, which will then undergo technical and financial evaluation by the
university’s research fund. Selected projects will receive joint investment and
continuous supervision.
“This initiative is expected to mark the
beginning of a long-term, sustainable partnership between academia and Iran’s
petrochemical industry,” Faridvand said. “If successful, the scale of financial
resources allocated to such projects will increase significantly in the
future.”