Economy, Sci & Tech

Avatech Cycle #4 Begins

Avatech Cycle #4 BeginsAvatech Cycle #4 Begins

Avatech, one of Iran's largest business accelerators, has announced its Cycle #4 is set to host new business proposals to begin their process of professional development and accelerate their market entry on June 25.

Iranian accelerators have had mixed success in recent years, as many of the potential businesses have struggled to move beyond the accelerator stage.

So far, only a handful of startups have received further funding and they are up against established players in the market like Germany's Rocket Internet and other locally-funded digital businesses.  

According to a press release from Avatech, the accelerator program is slated to host 20 young businesses for a pre-acceleration program where they will discover the next hot ticket items to join Iran's burgeoning online business market.

The new 20 teams will start their eight week pre-accelerator program where they will learn key points about working in digital businesses and the accelerator itself can whittle down the list of potential candidates to develop their online trade models.

On the first day, Avatech mentors are to meet the new business groups to discuss their plans for launching their new endeavors and discuss how they can help them.

Avatech is just one of a growing number of startups in Tehran and around Iran, which has the full backing of the government to push ahead with creating new enterprise.