June 5, 2017

RIPENESS:

Isolation by the West fuels a tech startup boom in Iran (ADAM SCHRECK June 5, 2017, Times of Israel)

The Islamic Republic remains in many ways cut off economically from the rest of the world. Big-name Western brands shun the market for fear of violating terrorism-related sanctions that remain in place even after the country's landmark 2015 nuclear deal with world powers.

That means no KFC -- just local upstarts like "Iran Fried Chicken" -- or credit and ATM cards connected to global banking networks. Visitors to the country must carry in thick wads of dollars. Many popular social-networking sites like Facebook are blocked by government censors.

Order from Amazon or call an Uber? Forget about it.

In their place, a surprisingly active tech startup scene has sprung up. It's driven by a growing number of Iranian millennials who see their country of 80 million people not as an isolated outcast but as a market ripe with opportunity.

Posted by at June 5, 2017 8:24 AM

  

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