The University of Tehran and the Noor Credit Institution have jointly established “Tehran Startup Studio”, an accelerator trying to expedite the process of transforming ideas into business opportunities, as well as forming a deep link between academia and businesses.
Tehran Startup Studio is set to operate as a startup accelerator as well as a venture capital fund, reported Shanbepress, a local startup news agency.
Director of the studio Mohammad Reza Molla-Ahmadi says, “VCs need an entity to vet each applicant before forging a contract. That’s why we established an integrated entity including both VC and startup accelerator.”
Molla-Ahmadi also said in an interview with Boursenews, “Another goal of this accelerator is to make serious investments in projects with completed prototypes, needing capital to get commercialized.”
The entity backs knowledge-based, technical, and engineering companies, and intends to employ local students in scientific and executive projects.
The accelerator provides startups with a wide range of facilities, including but not limited to joint working spaces, financial support, specialized training, the opportunity to use laboratories, business counseling and provision of access to a wider network of investors and venture capitalists and big industry owners.
Hossein Nezamdoost, head of Farabourse financial institutions, described financial support as one of the main issues that trouble burgeoning firms. He reiterated the significance of engaging investors so that patented ideas get the chance for commercialization.
The opening ceremony to launch the accelerator was held in UT Faculty of Mechanical Engineering on May 15.
