Iran's Avatech Accelerator Taking New Startups

Registration for the new cycle of startups at Avatech accelerator started on January 9.  

The accelerator has made some changes in  regulations for the new startups. In the past Avatech would own a 15% share in the company by the end of the acceleration period. The new regulations say Avatech's share will vary from 8% to 15%, the local technology website webna.ir reported.  

Previously, teams that took part in the acceleration program were given 250 million rials ($6,250) as capital. In addition to this amount, the new teams can also apply for a loan of up to 1 billion rials ($25,000). Instead of repaying the loan in cash, the accelerator may own more of the companies' equity.

The new cycle seems better suited for startups that have had some experience in the market with a product more complete than a minimum viable product (MVP). A MVP is a product with just enough features to gather validated learning about the product and its continued development.

Startups wanting to join Avatech have until February 7 to register.