FREQUENTLY ASKED QUESTIONS
How can I apply for Avatech?
We have explained the application process here.
How do you select the teams in each cycle?
We review applications and interview teams. We then choose top 20 teams based on their readiness, capabilities, market size and the business model.
Who will select the teams that will be accepted to Pre-Accelerator?
Avatech team along with experienced entrepreneurs and mentors will select top 20 teams to enter pre-accelerator. We also have global partners who help us with this process.
When do I have to apply for Avatech?
The third cycle has been started and the applications are open until 24th of March 2016. Applications are processed as they come in. First come is first served. The earlier you apply the higher is the chance of getting into the program
How do you select the ten best Teams?
Avatech closely work with teams during pre acceleration and observes the activities and progress of the teams. At the end of 2 month, teams will present their progress to the “selection committee” which consists of Avatech team, few mentors and angel investors.
Is my startup ready to join Avatech?
We accept teams ranging from idea developing phase to companies with already existing customers. All we need to know is to make sure that the program is right for your startup and you are just the right team to attend Avatech.
What type of startups do you accelerate?
We only accelerate technology startups. They could be startups in Web & Mobile, Internet, eCommerce, Online Game, Big Data, Cloud Computing and Software as a Service.
Do we need to have a working product to join Avatech?
Not necessarily! We want teams that can make rapid progress and reach critical product and market development milestones (e.g. a working version for customer feedback, early customer acquisition) in a short amount of time.
What should be the size of the team?
The teams may have up to 4 founders, we prefer 2-4 founders as a single founder has a lot to struggle with.
My team is in an advanced stage, is Avatech the right program for me?
If you have not already raised a fund from an investor such as VC or angel, Avatech could be appropriate for you.
Should all the team members work at Avatech office?
During pre-acceleration, teams do not necessarily have to work from our office. However when a team is accepted into accelerator, we ask all of them to work from our office, so we can closely work with them and support them with the advice and mentorship they need to accelerate and grow.
FUNDING / LEGAL
Do I need to have a registered company to join Avatech?
No. If you are accepted into our program, we will help you go through legal issues to have your company registered when needed. We will also connect you with experienced legal service providers.
How much funding do you offer?
Teams who pass pre-acceleration successfully will receive up to 25 Million Tomans (~8,000 USD) in cash.
What do you get in exchange for the funds?
For the 25 Million Tomans in cash and additional services we get up to 15% share of your startup.
What if I need more money?
Our offering range is the same for all teams, and we believe that no startup needs more money at this stage than what we are offering, but we will work with you to make sure that your budget meets our fund.
How can we get funded when Avatech ends?
At the end of the six months there will be a Demo day where you will get the chance to present your startup in front of a hundred selected investors who are searching for promising companies to invest in. Being part of Avatech and attending our networking sessions and trainings will also give you the opportunity to get in contact with possible investors.
How many startups do you invest in each year?
We invest in up to 10 startups per cycle and we have 2 cycles each year, so we generally invest in around 20 startups each year.
Do startups need a business plan to join Avatech?
Where is Avatech located?
We have a creative office space at the heart of Tehran (Around Amir-Abad). However, we have expansion plans for the near future.
What does “Pre-Acceleration” mean?
It is a 2 month trial period where teams go through a specific program to show their capabilities. At the end of 2 month, only the top 10 teams can enter Avatech accelerator program to receive the fund and extra service.
I have a great idea, but I cannot find any co-founder. would you help me find one?
You should try attending networking events such as hamfekr. You may also attend our open events to meet new like-minded people.
How do you support me?
Additionally to funds we support you by providing office space, access to high profile mentors, trainings, networking opportunities and special perks and services. Find more information here.
What if I am working in a company. Can I still attend Avatech?
During pre acceleration only the weekly meetings are mandatory so you are free to decide what to do with the rest of the time. But we strongly encourage you to spend as much time as possible to work on your idea/product with your team. If your team is selected to enter the acceleration phase, your team should completely focus on developing your product. That’s one reason why we provide you with fundings. To make sure that your living costs are covered and you can completely focus on your startup.
What is the Demo day?
Demo day is the day where you will present your startup to potential investors. At the end of the six months we will invite a 100 hand-picked investors and you will have the unique opportunity to present your startup to them in order to get further investment.
How can I contact you?
You can see our contact info here. Just drop us an e-mail, call us or drop by at our office.
When does the next cycle start?
The applications for cycle #4 will open Bahman 24th. Application Deadline is 5th of Farvadin. The Pre Accelerator will start 5th of Tir
Can I apply from other cities than Tehran?
Yes, you can apply from other cities than Tehran. During the pre-accelerator we recommend you to work from our office space in Tehran as much as possible but you can also work from home or other places. You just need to be in Tehran for our weekly meeting. Should you get selected for the Accelerator, we expect you and your team to move to Tehran and work from the office as this is the place where we can best support you and put you in touch with the relevant people.