Iran Veep Commends Local Startups

EghtesadOnline: Vice President for Science and Technology, Sorena Sattari, said on Saturday that Iran’s startups have contributed to economic growth following the nuclear agreement in mid-2014 that led to the easing of international sanctions.

News ID: ۷۴۱۰۰۲

17 April 2017

“Iranian youth will soon replace big companies, even car manufacturers based on the fact that some of their startup companies have grown 1000%,” IRNA quoted the official as saying at the 10th International Exhibition of Exchange, Bank and Insurance underway in Tehran.

Sattari added, “Three years ago, when we started collaborating with the Post Company, I could not imagine the knowledge-based industries would improve so fast.”

He added, “We are considering creating something like a stock market for the sector.” He did not elaborate, according to Financial Tribune.

The fact that a 25-year old owns a million-dollar company shows new kinds of financial systems are developing in the country.”

"In the last year we saw some new entrants in the country’s economy; the nation’s youth will break old taboos and as time passes we will witness the decline of traditional trade.”