Economy, Sci & Tech

Enrollment Call for Avatech's 3rd Cycle

Enrollment Call for Avatech's 3rd Cycle
Enrollment Call for Avatech's 3rd Cycle

One of Iran's leading business accelerators, Avatech, has released a public call for startups to register for the third cycle of the company's accelerating program.

In the third cycle, 20 startups will be selected for Avatech's six-month accelerator program, co-founder Mohsen Malayeri said at a press conference.

According to a press release, the startups will receive funding and working space during the period. They will be mentored by professional trainers in technical matters.

Enthusiasts may refer to for registration until September 20.  

Avatech helps new businesses get off the ground by providing finance and professional guide. In the course of educational workshops, startups learn about legal business challenges, marketing, product design, advertising and team management.

According to Malayeri, the company has by far provided 584 billion rials ($17.5 million at market exchange rate) to 10 startups selected in September 2014 for the first cycle. The first cycle has created jobs to 85 people with an average age of 28.

Also during the second cycle, out of 220 startups, 20 have been selected and are currently being mentored. These startups focus on several areas, including electronic trade, videogames, Internet, cloud storage and software services.  

In 2014, accelerators in Europe allocated more than $39 million for the development of startups, while Latin American startups also received $35 million. This, according to Malayeri, indicates that funding is more or less evenly distributed to startups across the world.

"Iranian accelerators and startups must also catch up with global trends," he said.    

Iran's startups have recently boomed in number and strength, as more and more graduates explore new business ideas in the area. Accelerators like Avatech and Dmond are leading the rise of new companies in the country by supporting the innovative ideas of Iranian youths.