In order to prepare basis for participation and investment in knowledge-based innovation ecosystem, Islamic Azad University established its research and technology fund in January 2021.
After that Azad Fund started its official operation in non-governmental (privet held co) format.
Starting registered capital was 200bn rial which was fully paid by the shareholders.
Because of the special activities that fund had done, vice-presidency for science and technology granted 2nd-type of knowledge-based certification for Azad Fund.