How end of sanctions on Iran will help the startups

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According to a report by World Bank, if the sanctions in Iran end then it would mean that the prices of oil will drop a 14 percent and there will be an increment of 15 billion dollars in the Iranian oil revenue and by this fact we can very well know that the end of sanctions in Iran can result into stability and betterment in the economy of Iran and as for the startups in Iran they will get effected too.

Due to the sanctions the Iranians were unable to expand and they had to function in just their own backyard. Iranians companies were not permitted to function in the western countries and another issue was that there was shortage of payment portals for the users from different nations and so Iranians were compelled to give their services for free. But now the Iranians can get access to international banks and they will soon be able to send or receive money from different parts of the world. It is predicted that within few months the Iranian startups will too have the international payment portal and so it will help the Iranian startups to expand.

There were some Iranian startups that were facing this problem. Taskulu had to make an office in Singapore just for the payment purposes and the other Iranian startup Faranesh also has to use alternative methods for payment purposes as well. By the sanctions being lifted, the entrepreneurs will now be able to think with more creativity. Countries such as Turkmenistan and Afghanistan which are solely dependent on Farsi language and had barriers due to their language but now they can become available as well. Transportation will become quite easy internationally. But the sanctions have been causing a lot of issues to the entrepreneurs. A media platform was developed in Iran, named Cloob, but it had faced a huge loss because a gigantic amount of Cloob users from Iran had left it and had joined Facebook.

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Iran Tech Startups

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An advanced market has opened up to the world which consists of VCs who are trying to make their way in Iran in order to make good deals and so by these capital opportunities it can be easier for the Iranian entrepreneurs to expand their startups. Some foreign funds are forecasting to get in Iran. The entrepreneurs in Iran can now plan of something to land internationally and to think and implement something out of the box. Time is required to see the effects of the end of sanctions in Iran. But we do know that the hurdles concerning the sanctions in Iran are going to end and so the Iranian companies can now plan expanding strategies since they were not able to do so in the past.

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