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Institutional changes, in a historical context, through simultaneous evolutionary and metamorphic processes either deform or reform long-enduring institutions. The chapter delves into the Persian history from the early days of the reign of Nāṣer al-Dīn Shāh-e Qājār in 1848 to the recent years and traces Persian institutions' historical transformations, which culminated to the Persian women entrepreneurship. Thus, the chapter first sets the historical context in each period and then sheds light on the pivotal issues of each period's women. The undergirding base of the discussions is the assumption of the change in institutions as natural metamorphosis in the animate. Finally, the discussions contribute to the conceptualization of the Institutional Triangulation and in the case of Persia, a cultural-driven triangulation, which has paved the way to the formation of a stupendously hegemonic patriarchal and masculine sociopolitical economy in Persia, that has historically affected women's institutionalization, subjugation, subordination, marginalization, socialization, emancipation, and most recently Islamization phases.