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What Serbia’s Technology Industry can do for its Economic Situation

Serbia's Technology Industry
Serbia’s technology industry is growing, and recently it received a ranking of the 40th globally in exporting software. The growth of this sector has improved the country’s economy. Additionally, students receive encouragement to participate in higher education, especially in computer sciences and engineering. The hope is that an increase of startup companies in the technology sector will continue to stimulate local economies and boost Serbia’s position globally.

Employment in Serbia

In 2018, Serbia had an unemployment rate of 14.8%, an increase from the past years. Furthermore, in 2016, the Serbian Statistical Office recorded a total youth unemployment rate of 44.2%. One of the reasons for these high rates is the education system. Despite having nearly a 90% graduation rate from high school, Serbia’s education does not provide the workforce with the proper tools to meet its economic needs.

These factors led to the National Employment Action Plan for 2020, which concentrated on youth employment and workers with lower educational levels. However, Serbia’s technology sector requires a significant number of highly skilled and educated professionals to further technological advances through knowledge and inventions. Since this sector is the most important in the country, the government is currently focusing on higher education in Serbia to produce more highly skilled workers, specifically software engineers.

The Education System

To support Serbia’s technology sector, the government has dedicated nearly $80 million to science and technology centers. Additionally, it plans to provide schools in Serbia with almost $85 million in funding for better internet connections and equipment such as computers and software.

The education system has already received credit for producing many software engineers in Serbia. Children start programming early, with computer science classes starting in fifth grade and continuing into high school. Also, students who wish to pursue an education in STEM have the opportunity to attend one of the 80 high schools in Serbia that specialize in computer science and electrical engineering. Every year, more than 3,300 software engineering students graduate from colleges in the country, and the number of graduates is increasing every year.

In 2019, Serbia’s economy grew by more than 4% but stagnated in 2020 due to the COVID-19 crisis. Serbia’s technology industry had more than 2,000 firms in 2017, a large increase from 700 in 2006. Furthermore, the industry revenue nearly doubled during that period. Google has started supporting Serbia by using its Google Developer Launchpad, which helps technology communities and startups in countries aiming to develop further.

Serbian Startups

Nordeus, a self-funded game developer, began in Belgrade, Serbia. Soon after, the company gained recognition for producing one of the most popular online sports games, which took in a yearly amount of $75 million. In addition, the startup Seven Bridge Genomics has raised more than $100 million and is bringing together scientists who research on finding therapies in order to cure cancers. The company employs the largest number of bioinformaticians in the world within the private sector. Additionally, the crowd-funded startup Strawberry Energy invented smart benches which provide Wi-Fi as well as outlets to charge your phone. Strawberry Energy started with benches in Belgrade but has already expanded into 17 countries.

Serbia’s technology industry has the potential to fight the country’s economic stagnation. Therefore, the government is supporting the technology and startup community with investments and improvements in the education system. Due to these measures, Serbia hopes to see a rise in employment and economic growth rates, hoping to lift people out of poverty in the country.

– Sarah Kirchner
Photo: Pexels

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Medical Advancements in Iran Prove to be a Success

Medical Advancements in IranIran is a developing country located in western Asia as part of the Middle East. In the past several decades, Iran has accomplished major strides in terms of its health care system and medicine. The following list details only a few of the successful medical advancements in Iran that have been developed within the last decade.

The Health Care System

Iran adopted the Primary Health System in the 1990s, which revolutionized its health care system. Since its initiation, the country’s life expectancy has increased by eight years. This has had positive effects on both their economy and poor communities. Also, Iran has done tremendous work in improving the accessibility of health care. Currently, more than 90% of rural populations have access to affordable health care. Previously, there was a major gap in providing health care to their less populated, rural areas where many vulnerable groups resided.

Local Production

Since the Iranian Revolution in 1979, the country has made initiating the production of locally produced medicines and drugs a priority. Prior to the revolution, Iran relied on imports from foreign countries for about 70-80% of its pharmaceutical ingredients. As of 2018, it is estimated that around 97% of their drugs were locally produced and manufactured.

Focusing on local production boosted Iran’s economy, making the country a major competitor in the world market. It also increased their GDP through the exportation of their locally produced pharmaceuticals. Furthermore, the country has strict regulations in place for importation. Iran both follows American guidelines and creates its own rules, which ensures high-quality, safe products.

Iran’s health minister stated that the country saves around 700 million euros simply by producing their own products. The country can now allocate this money to other necessities, which displays the importance of medical advancements in Iran.

Medical Biotechnology

Biotechnology is the production and development of products by manipulating living organisms. Medical biotechnology has the power to uplift health care systems for countries across the globe. Iran’s advanced health care system has allowed them to become a leader in medical biotechnology across the Middle East and North Africa.

Iran’s boost in local production stems from pharmaceuticals to biotechnology. As of 2012, the country had 12 approved products and 15 more products pending approval. These products placed Iran among the frontrunners of biotechnological production. Other countries now rely on Iran for medical trade. Biotechnology has the potential to produce a multitude of medical advancements in Iran. If the country earns the spot as the leading country of biomedical technology, the benefits for their economy and citizens would be numerous.

New Medical Treatments

Medical advancements in Iran have also led to new medical treatments. The country has developed new, upcoming medicines and treatments in hopes to cure certain diseases. Just this year, a group of scientists announced they developed an herbal treatment for epilepsy, Fenosha, that resulted in successful outcomes during their clinical trials.

Reza Mazloom Farsibaf, the founder of the medicine, stated there is no other medicine that competes with Fenosha. The treatment is non-toxic and has minimal side effects and symptoms. If approved, mass production is expected for Fenosha. The herbal medicine could potentially become a viable option for the 340 million people across the world that require treatment for epilepsy. The country is expected to continue generating products that will further mobilize its position in medicine.

– Bolorzul Dorjsuren
Photo: Flickr