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Stating that in a closed economy, one cannot expect to become a unicorn, the vice president of strategic development and corporate affairs of Fanap said: “Big companies in the digital field in our country will definitely be considered unicorns in a normal economy and will be valued.”
According to Fanap Public Relations and Branding Report, Keyvan Jamebozur explained about the prospect of digital companies becoming unicorns in the “Unicorns in Iran” panel, which was held on the sidelines of the first day of Iran’s Opportunities Conference in the Digital Age at Milad Tower in Tehran, and said: “In the current environment, it is not possible to do much.” It had an accurate and reliable valuation about unicorns in Iran. The fact is that in the current situation, this question is very strongly raised to become a unicorn, so what happens after that?
He continued: “In the world, unicorns are a great symbol of hope for success for both investors and investors, but now if our collections in Iran become unicorns, what is going to happen to them?”
Jammeh Bozur added: The development paths of unicorns in Iran are closed and it is difficult to talk about the valuation of large companies in the digital field. But if companies like Snap, Digikala and Alibaba were in a country like the UAE, their value would be over one billion dollars and they would be considered unicorns.
The Vice President of Strategic Development and Corporate Affairs of Fanap noted: Of course, it should also be noted that once becoming a unicorn was almost unattainable, but now there are about 1,200 unicorn companies in the world, and their number is more than the number of Iranian cheetahs. We even encounter decacorns and hectacorns. In Turkey, a company like Trendul, which started operating years after Digikala and did not reach Digikala in terms of market value, daily transaction amount and active users, has become Dekakorn (startup with a value of 10 billion dollars).
He emphasized: I believe that our big companies in the digital field will definitely be considered unicorns in a normal economy and will be valued.
Stating that we cannot have many unicorns in a closed or small economy, Jammeh Booror said: the world’s unicorns either had foreign investors or were able to take over the international market. Our market is considered a big market in the region, but in the market of 80 million with money that weakens day by day, the hope of becoming a unicorn in the international arena is weak. We need an international economy where unicorns are born.
The vice president of strategic development and company affairs of Fanap also said about the financing restrictions for companies in the digital field: financing tools are extremely limited in our country and direct investment in this field is very rare; Our capital market is not diversified and the financial institutions that want to provide financing are limited. Even in our country, there are still no true corporate venture funds (CVC) and there is no clear plan for initial investment.
He continued: In addition to these cases, we are witnessing the existence of barriers to entering the stock market in the way of startups that have passed their test and made a profit. Their only hope is also closed. In this situation, it is unrealistic to expect to become a unicorn.
Jame Booror asked the government not to destroy hope in the private sector society and emphasized: Hope is the most important motivation and force that helps encourage a group to develop its business and become a unicorn.
Referring to the overnight decisions and the change of the government’s policy in the regulation of this area, he said: the duty of the government should be not to take away hope from the entrepreneurial community of Iran, and the private sector is also determined to establish a financing fund to invest in successful startups in the country. Take action to cover the gap in the roadmap of digital companies to become a unicorn. Only then will this be possible.
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