Nascent Entrepreneurs' Behavior Expected by Investors in the Process of Investment

Document Type : Research Paper


1 Phd Student/Organizational Entrepreneurship, Faculty of Entrepreneurship, University of Tehran, Tehran, Iran

2 Associate Professor/Organizational Entrepreneurship, Faculty of Entrepreneurship, University of Tehran, Tehran, Iran

3 Assistant Professor/ Organizational Entrepreneurship, Faculty of Entrepreneurship, University of Tehran, Tehran, Iran


One of the main obstacles on the way of nascent entrepreneurs to create and develop their businesses is gaining financial resources. A common method of financing for nascent entrepreneurs is to use the resources that investors can provide. The entrepreneurs' tendency to attract these financial resources, as well as the limitation of the investors' financial resources gives special significance to the way investors select their new investments. In the present paper, thus, attempt has been made to identify and model the behavior of nascent entrepreneurs expected by investors in the process of investment. To this purpose, we utilized the qualitative method, and Grounded Theory with a systematic approach. The sample population in this study included all active investors in venture capitalists and accelerators in the province of Tehran who have at least had one experience of investing on nascent entrepreneurs. Sampling from the population continued up to the point of theoretical saturation, which was achieved in the twelfth interview. The results revealed that having an entrepreneurial spirit, sociability, and strategic behavior are among the most important features investors expect from nascent entrepreneurs.


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