Said Rahmani’s Fight to Preserve Iran’s Flagship Startup Ecosystem

Executive Summary: A National Asset at Risk

Said Rahmani, a central figure in Iran’s startup ecosystem, has passionately chronicled the founding and current crisis of the Azadi Innovation Factory (AIF), the nation’s first innovation hub. Rahmani characterises the AIF project not merely as a real estate transaction, but as a critical “economic, social, and ecosystemic plan” designed to foster synergy and collective growth among early-stage startups. Despite significant private sector investment (over 60 billion Tomans from SarAva alone) and successful incubation of several key technological companies, the AIF now faces an imminent threat of closure due to a contractual dispute over its ownership by A’ma Company, a publicly traded private entity. Rahmani’s account serves as both a historical record of private sector vision and a call for urgent, collective financial intervention to secure the future of this vital national entrepreneurial symbol.

The Genesis of an Ecosystem

Visionary Intent and Location Strategy (For Researchers & Global Serial Entrepreneurs)

Rahmani details the years-long effort to locate a suitable central hub, noting that the initial attempt to consolidate startups at the Pardis Technology Park failed primarily due to the logistical challenge of commuting for young, often part-time, student entrepreneurs.

The discovery of the abandoned A’ma industrial complex solved this “long-held aspiration” because of its proximity to the metro, its location at the start of Jadeh Makhsoos, and its closeness to major educational institutions like Tehran University and Sharif Industrial University. Rahmani was immediately struck by the possibility of converting the site into a “startup factory” (Kar-khanehye Startupi).

The driving philosophy behind the AIF was the creation of synergy , mirroring the organic cultural development of places like Silicon Valley. The goal was to ensure young companies and venture capital firms (VCs) could coexist, learn from each other, and receive collective support from legal and financial experts, preventing the dispersal of promising startups across high-rent areas of Tehran. Rahmani firmly states that the founders’ goal was not the establishment of a real estate monopoly for SarAva or HamAva.

Honouring Industrial Heritage

A unique element of Rahmani’s vision was the preservation and integration of the site’s industrial past. The AIF was built on the location of one of Iran’s earliest industrial factories, A’ma, which historically produced welding rods, a foundational necessity for industrial development following World War II. Rahmani describes his emotional commitment to this legacy, insisting that the remaining structures, like the main furnace and Siemens machinery, be maintained as a “historical museum” of Iranian industry.

This connection was cemented architecturally by commissioning the acclaimed architect Leila Araghian. The resulting design transformed the dilapidated tower into an artistic symbol of entrepreneurship, linking the past industrial technology (electrodes) with the present innovative environment.

Investment and Scalability

Private Capital Commitment (For Global Investors)

The project’s initiation was highly dependent on private sector confidence, as Rahmani noted the establishment of such centres is typically the responsibility of governments. SarAva, Rahmani’s associated investment company, invested approximately 60 billion Tomans in launching HamAva (the executive team) and the AIF. Critically, at least 50 billion Tomans of this was directed toward investments in startups, team operations, and establishing HamAva itself.

Rahmani’s strategy aimed for HamAva to reach a break-even point , acknowledging that securing external capital for such institutional centres has historically been extremely difficult.

The Anchor Tenant Strategy

To achieve “take-off” and overcome the initial hesitation of companies to settle in the unproven location, Rahmani employed a crucial strategy: securing anchor tenants, often through highly concessionary terms.

• SinaGen: The first major tenant, led by Dr. Mahboudi, agreed to occupy the initial hangar. Rahmani accepted “extremely unilateral” terms to secure this foundational move, viewing it as the necessary first plane taking off from the runway.
• Subsequent Growth: This move catalysed follow-on investment and occupancy by major private sector entities, including Vickes, Saman Insurance (Plannet), Diginext (focused on AI), Hennan Pharma (bringing significant pharmaceutical and medical laboratory facilities), and Alibaba (tourism/e-commerce).
• Total Investment: These private entities collectively poured an estimated 300 to 400 billion Tomans into renovating and establishing their operations within the AIF.

The Current Crisis and the Path Forward

The Legal and Financial Dilemma

The AIF now faces disruption as A’ma Company, the owner, has announced its intention to reclaim or sell the property. A’ma, being a publicly traded company on the stock exchange, has a fiduciary responsibility to its numerous shareholders (including private families and national investment firms) to secure the highest market price.

Rahmani cites current estimates for the property’s value between 1,800 billion and 2,500 billion Tomans. He stresses that the current inhabitants (the innovation centres and startups) and ecosystem participants must respect the commercial law and the A’ma board’s rights.

Proposed Solutions for Collective Ownership (For Global Investors)

Rahmani insists that the future of the AIF is a collective responsibility (ayandeh-ye jam’i) and outlines several practical financing mechanisms to resolve the ownership crisis and keep the symbolic “light” of innovation on.

1. Housing and Land Fund (Sandogh-e Zamin va Masken): A formal fund structure could be established, potentially trading on the stock exchange, allowing the major companies and the general public to invest collectively in purchasing the land.
2. Property Tokenization/Cooperative: An alternative method involves tokenizing the property or forming a cooperative structure, enabling a wide range of individuals—including entrepreneurs currently at the site or in the future—to acquire fractional ownership, potentially with investments as low as 1 million to 10 million Tomans.
3. Direct Negotiation: The primary necessity is for direct and frank negotiations between representatives of the private sector stakeholders (SarAva, HamAva, the resident companies), the supporting governmental agencies (Scientific Vice Presidency, Pardis Technology Park), and the A’ma board to reach a “win-win” solution at a fair market rate.

Rahmani concludes that allowing the AIF to fail, or its “light to be extinguished,” would bring darkness (siyahi) to the ecosystem and demoralise the resilient young entrepreneurs still operating within the country.

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