FIDE Women's World Chess Championship 2017 started in Tehran, capital of Iran, on Friday.

The competition will be held from February 10 to March 5.

The knock-out tournament will have the participation of some of the world’s top players, including the former Women’s World Champions Alexandra Kosteniuk (Russia), Anna Ushenina (Ukraine), Zhu Chen (Qatar) and Antoaneta Stefanova (Bulgaria), the current Women’s World Rapid and Blitz Champion Anna Muzychuk, the winner of the FIDE Grand Prix Series 2015-2016 Ju Wenjun (China), the three-time Russian champion and two-time European Champion Valentina Gunina and other leading grandmasters.

The first five rounds consist of mini-matches of two games with 90 minutes per 40 moves plus 30 minutes for the rest of the game with bonus 30 seconds per each move. The final match consists of four games, FIDE.com wrote.

Sarasadat Khademalsharieh, Atousa Pourkashiyan and Mitra Hejazipour will represent Iran in the prestigious event.

“I am well-prepared for the competition since I’ve participated in several tournaments ahead of the Women's World Chess Championship,” Khademalsharieh told website of Iran Chess Federation.

The total prize fund of the Championship is US $450,000. Every player gets 3750$, those who make it to round two get 5500$, for round three it is 8000$, round four 12,000$, round five (semifinals) 20,000$, the silver medalist 30,000$, and the winner 60,000$.