After the holding of first International Nano Olympiad Forum in Iran on 17 May 2016 with the presence of Representatives from ANF, Iran, Kazakhstan, Malaysia, Russia, South Korea, Taiwan, and Thailand, negotiations were conducted about holding the first INO. According to the decisions taken by the participants, the regulations and MoU were made in Iran. Regulations and MoU also received the official approval after a sequence of negotiations among the participants. The final MoU was signed on the sideline of ANF meeting by Representatives of Iran, Russia, South Korea, and Taiwan in Tokyo on 15 February 2017.  

By signing this MoU, the mentioned Representatives officially declared their presence in the First INO. Other clauses of this agreement are as follows:

• Given Iran’s seven-year-old precedent for holding such competitions at national level, the first INO will be held on 10 April 2018 for 5 to 7 days in Tehran.
• Signatories of this MoU are introduced as the founders of the INO and become committed to hold the INO Steering Committee as the highest authority.   
• The INO will be held alternatively in each of signatories every year. 
• Iran is assigned as the permanent secretariat of Olympiad and will be responsible for keeping the Olympiad under surveillance in the involved countries. 

The representatives of Iran, Russia, South Korea, and Taiwan, respectively from Iran Nanotechnology Innovation council (INIC), RusNano and Moscow State University, Korea Nano Technology Research Society (KoNTRS), and Institute of Physics, Academia Sinica were present during the signature of the MoU and declared their official attendance.     

The INO is scheduled to exploit the intrinsic competence of young elites based on a novel approach aiming to solve the scientific and technological challenges. Other goals of holding the INO are as follows:

• To enhance the motivation of the students towards gaining deeper knowledge of nanotechnology and acquiring skills for solving the industrial challenges and fulfilling today’s innovative applications.
• To improve participant’s basic knowledge and skills in innovation and commercialization processes.
• To reinforce the spirit of team work among the participants.
• Identification and support of existing talents in the field of nanoscience and nanotechnology all over the world. 
• To provide the proper infrastructures in order to broaden scientific-technological cooperation among young researchers.