Dubai entrepreneur looks to start up in Iran

The Life: As US sanctions are tightening their grip on Iran, a Canadian-Iranian entrepreneur is opening a business in the country.

Amir-Esmaeil Bozorgzadeh, Canadian-Iranian, is the managing partner of Conovi, an online start-up incubator in Dubai. Jeffrey E Biteng / The National

As US sanctions are tightening their grip on Iran, a Canadian-Iranian entrepreneur named Amir-Esmaeil Bozorgzadeh, 28, is opening a business in the country. Here, the managing partner of Conovi, an online start-up incubator based in Dubai, discusses how he wants to connect the Farsi-speaking community with Chimigi, his first commercial business.

q What are your plans for Conovi?

a Conovi launched on June 1 and Chimigi is its first venture and will launch in the first week of July. It has partnered with Pars Online, which is a private internet service provider in Iran ... [and has] about 12 per cent of the hosted sites in Iran. We plan to launch two more ventures by 2013, and one of them will be a Farsi online gaming business.

Would your business clash with sanctions on Iran?

The [Office of Foreign Assets Control of the US Department of Treasury] in an update in March said businesses in certain internet categories are not restricted from doing business [in Iran]. Brands are able to branch out in online [advertising] in Iran.

Why open in Iran now?

Iran has a population of 77 million and 50 per cent of that are internet users. A good share of top 15 websites in Iran are blogs. But people in Iran lack the ideas and execution [strategies] to make business out of it. Conovi will [implement] online business models in Iran. Sanctions have been around for 30-plus years and so Iran [has become] self-sustaining.

Why cater to the Farsi-speaking population only?

There is a [huge] Farsi-speaking population around the globe. Conovi will bridge the gap between the Farsi-speaking audience around the world, and domestic and foreign companies. Chimigi, in Farsi meaning, 'What are you up to?,' will bring deals and offers [from Iranian and foreign companies] to Farsi speakers.

What is its business model?

Chimigi will send emails of deals and surveys [about products and services that brands want feedback on] to its subscribers. We will have access to ... 250,000 [digital subscriber line ] subscribers of Pars Online. ... [The service is] free for subscribers. Chimigi's main expenses would be to send out large volumes of emails. Each subscriber [can select] ... topics they are interested in and how frequently they want to receive surveys and promotions. We will have a team of account managers in Dubai and [our office in] Tehran. The Dubai office is concerned with global campaigns and relationships. We have 10 people currently, including myself.

How will you ensure payment - US sanctions bar Iranian banks from international transactions?

We're developing digital offerings for Farsi-speaking consumers and businesses who, aside from Iran, live, travel and operate from all around the world. Dubai is a regional hub for ... many international companies ... Our sister company [a separate legal entity will] manage operations and relationships [in Iran].

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