The Story of a $1.5 Billion Iranian Start Up Formed by a Stanford Graduate
Independent Aggregator of Iran-related News/Events, Kodoom.com: Ahmad Khorram, Tehran Architects Organization chief, during Energy Management Conference, shared the story of a $1.5 billion technology start up by an Iranian graduate from Stanford University: "He was making some $16000 a month in the US so he was initially skeptical about returning to Iran when he received a special invitation by President Rohani's Deputy. Thanks to the support by the Office of President to overcome resistance by the taxi drivers union in Iran, some 10 months later, the Snapp ride hiring App was fully functional and today it is valued at $1.5 billion. This is an example of the economic power of our expert expats."
Mr. Khorram lamented the mass migration of some 150,000 experts from Iran every year, and estimated the brain darin to cost Iran's economy some $1.5 trillion in economic opportunity cost a year.
He called it "shameful" to be economically paralyzed in a country that has only 1% of the world population but 9% of world's natural resources: "Some 44 years ago, Seoul aspired to become another Tehran, now we dream for Tehran to become like Seoul one day!"
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