Marvel fans generally understand that Iron Man is the best when it comes to creating suits, but in the Ultimate Universe, Spider Man's father created a Venom suit that tops anything Tony Stark can create.
Since the start of the Ultimate Universe, fans had been questioning when and how Venom would fit into the continuity. Their demands were answered when it was revealed that Eddie Brock and Peter Parker were in fact childhood friends because their fathers worked together as scientists. When the young Brock tried to continue his father's work, he contacted his childhood friend Peter in order to rekindle their friendship and get him involved on the project.
In Ultimate Spider-Man by Brian Michael Bendis and Mark Bagley, it was revealed that the project the adult Brock and Parker were working on was called the Venom suit. Parker hopes to use it as a medical tool to cure cancer while Brock is more interested in the suit's military capabilities. Peter unwittingly bonded with it and was surprised by how much power it had given him. Unfortunately, the suit also unleashed a monster side of Peter. He was scared of the suit and discarded it, but not before Eddie bonded with it as well and became the Ultimate Universe's version of Venom.
Spider-Man's Father Was a True Genius
This version of the character is much different from the alien version in the mainstream Marvel Universe. However, he may actually be stronger in certain respects. Regardless, as far as suits go in Marvel continuity, it definitely ranks up there as something that Iron Man couldn't possibly compete with. Iron Man is all about tech hardware that can use electronics to blast opponents. The Venom suit, which is man-made as opposed to an alien, is a biological wonder that's unparalleled within Marvel continuity.
The Ultimate 'Suit' Can Travel Between Dimensions
Reed Richards even discovered that the suit is able to survive dimensional rifts as well as travel between realities. It can bond with its host and genuinely enhance all the wearer's biological functions down to a psychological level. This might not be a big deal for a symbiote, which is a living thing, but for a suit that was created, it's pretty remarkable. Richard Parker actually designed it. It came from his mind. So the fact that Spider-Man's father was able to create something so unique and powerful when compared against Tony Stark's armor of metal is something he should get more credit for it.