7 Things You Need to Know Before Doing Business in IRAN
Iran is indeed among the most attractive and high potential markets of the world. But doing business in Iran is not that easy. It takes a lot of effort for foreign companies to understand the eco-cultural climate of the country to unfold its unlimited opportunities.
In May 2017, President Rouhani re-elected for a second term. A government is known for its sustainable development and close ties and communications with other countries. This is a change —and whenever there is a change, there are winners and losers. So it’s time to know how to take good advantage of this change to join the side of winners at this point. The new cabinet is young, and they’ve been approved by the parliament with high percentages of confirmation.
On the other hand, for those who are interested in Iran’s startup scene, the youngest of the cabinet is the Minister of ICT. Also, the Science and Technology Vice President remains in his position to help the sustainability of the ecosystem. Knowledge-Based companies are more relevant to the government than entrepreneurial activities and risk-taking sort of businesses. These companies are in-line with the resistive economy, and the government sees startups as leverage for administrating the resistive economy.
Startup community of Iran is gradually developing itself. Tons of events and Startup Weekends are taking place every week all around the country. You can also check out Iran’s startup ecosystem map which we made back in Sep 2016. In this ecosystem map, we talked about nine role players who are advisors, incubators, venture capital companies, users, accelerators, events, startups, angel investors, and the government. It can be seen that the nine key role players have developed by 30 to 40 percent since that map was made last year.