An international meeting held on April 24, 2024, at the Center for Development Research and Foresight, brought together experts to discuss the importance of small and medium-sized enterprises (SMEs) for economic growth and job creation, with a particular focus on the role of strategically-aligned and geographically-proximate countries. The meeting, titled "SMEs and Strategies to Overcome Barriers: The Role of Strategically-Aligned and Geographically-Proximate Countries," was led by Aidin Salamzadeh, the vice dean of the faculty of business management at the University of Tehran, who welcomed professor Galina Shirokova, the director of the Center for Strategic Entrepreneurship at HSE University of Saint Petersburg, Morteza Mohammadi Zanjireh, a faculty member at Imam Khomeini International University, and 17 university professors from St Petersburg University, Moscow State University, University of Calgary, and University of Notre Dame.

Shirokova, from the Higher School of Economics at St. Petersburg and director of the Center for Strategic Entrepreneurship, presented her research on the impact of business model innovation (BMI) on the performance of SMEs in Russia. The study explored how BMIs can influence performance variability and the moderating effect of CEO persistence in this relationship.

Shirokova highlighted that while BMIs can lead to positive performance outcomes, they can also introduce uncertainty and result in less reliable results in the long term. However, her research suggests that CEO persistence can mitigate these negative effects. CEOs with a high degree of persistence are more likely to navigate the challenges associated with BMIs and achieve positive performance outcomes in the long run.

The study emphasizes the significance of CEO persistence as an individual-level trait that shapes the relationship between BMIs and firm performance. This research sheds light on the potential benefits and risks of BMIs for entrepreneurs and highlights the importance of selecting leaders with the necessary persistence to navigate the complexities of innovation.

The second speaker, Mohammadi Zanjireh, a faculty member at Imam Khomeini International University, discussed the concepts of e-governance and smart governance, emphasizing their potential benefits for governments, particularly in the context of Iran.

Mohammadi Zanjireh outlined the potential of e-governance, which utilizes information and communication technologies (ICT) to enhance government service delivery. By leveraging online platforms and digital tools, e-governance can increase transparency and accountability within government operations. This can empower citizens with greater access to information and services, while also streamlining administrative processes to reduce time and costs for both citizens and government agencies. He further elaborated on the concept of smart governance, which builds upon e-governance by integrating new technologies such as artificial intelligence (AI), blockchain, and the Internet of Things (IoT). This allows for the collection and analysis of vast amounts of data, empowering governments to make data-driven decisions that can improve resource allocation, enhance citizen engagement, and stimulate innovation and economic growth.

This university professor also explored the potential applications of smart contracts and cryptocurrencies within the framework of smart governance in Iran. Smart contracts are self-executing computer programs that define the terms of an agreement and automatically execute upon meeting predefined conditions. This eliminates the need for third-party involvement and reduces transaction costs. Mohammadi Zanjireh highlighted the potential benefits of smart contracts for sanctioned countries like Iran, as they enable secure transactions without intermediaries. However, he acknowledged the challenges associated with implementing smart contracts in Iran, including the lack of a clear legal framework to define their validity and enforceability, as well as the need for establishing taxation laws and financial regulations for these technologies.

Cryptocurrencies were also addressed as a potential tool for facilitating financial transactions within smart contracts. Mohammadi Zanjireh suggested that cryptocurrencies could offer SMEs in Iran several advantages, such as reduced transaction costs, enhanced security due to their decentralized nature, and a hedge against inflation. He also discussed the potential benefits of developing a national cryptocurrency in Iran, which could foster wider acceptance and trust among SMEs, integrate seamlessly with existing financial infrastructure, and offer more stability compared to global cryptocurrencies.

The meeting concluded with Salamzadeh summarizing the key takeaways, reiterating the importance of business model innovation for SME growth and emphasizing the potential of smart contracts for various applications. The discussions highlighted the need for continued collaboration and knowledge sharing among researchers and practitioners to address the legal and regulatory challenges associated with these emerging technologies.