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US sanctions fail to hinder rapid growth of Iran’s tech sector: Report

Iran's tech market continues to boom despite the US sanctions against the country, while the bans have merely restricted the global giants' access to Iran's lucrative tech market, a new report says.

US sanctions have protected the Islamic republic's tech sector, barring Silicon Valley from profiting from one of the world's most promising emerging markets, and giving a free run to domestic start-ups to recreate their services, a Tuesday report by AFP read.

The report pointed to the emergence of local online services which are rapidly transforming different industries in Iran, including Snapp taxi service as an equivalent to Uber, Digikala instead of Amazon and Pintapin as an alternative to Booking.com.

The report noted that such domestic tech startups should not be simply construed as copycats as they have been designed based on different business models.

The report came just after Iran wrapped up its biggest annual IT show, the 23rd International Exhibition of Electronics, Computer and E-Commerce, also known as Elecomp 2017, in Tehran on July 24, with hundreds of local and foreign firms attending the four-day event.

The report pointed to the rapid growth in Elecomp's start-up section, noting, Its start-up section had 80 hopefuls three years ago, now there are more than 400 -- the usual mix of delivery apps, online shopping and games.

Source: Press TV

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