“More than 1,000 startups have featured in the Elecomp exhibition in three years, thanks to assistance of the NSR,” Sa’adat said in an interview with AFP, using an acronym of his organization.

Since the NSR took charge of planning the International Exhibition of Electronics, Computers and E-Commerce three years ago, a new section, dubbed Elecom Stars, has been added to the show.

Elecom Stars is essentially a platform for small-sized companies to present their ideas, products and services in an effort to raise funds and expand operations. 

Elecomp 2017, which will be underway until July 24, is hosting around 800 companies operating in the ICT sector. Additionally, 340 Iranian startups are present at this year’s Elecom Stars.

According to Sa’adat, the founders have the opportunity to work alongside mentors on how to expand their business, raise funds in meetings with potential investors and also present their ambitions to public visitors.

The NSR chief added that international economic sanctions against Tehran’s nuclear program stymied growth, but also unlocked a massive potential at home across many industries.

Sanctions were lifted in January 2016 following a landmark deal with the six world powers in exchange for scaling back the country’s nuclear activities. The sanctions removal has allowed Iran to open up its economy to foreign technology and investment and gradually reintegrate into the global financial and banking systems.

Sa’adat stressed that about 10,000 mobile applications have been launched in recent years. “The lifting of economic restrictions boosted competition and quality in the ICT market,” the official added.

Sa’adat also pointed to an inevitable shift toward new technologies. “There is initially some resistance to new businesses based on ICT services…the government will continue to support such businesses.”