Designing a strategic making Desision model for venture capitalists in selecting start-ups in Iran with emphasis on the embargo period

Document Type : Research Paper


1 PhD Candidate in Entrepreneurship Management, Islamic Azad University, Qazvin Branch, Qazvin, Iran

2 Associate Professor of Business Administration, Finance tendency University of Al-Zahra, Tehran, Iran

3 Assistant Professor of Management, Islamic Azad University, Qazvin Branch, Qazvin, Iran


In this article, the authors try to design a strategic decision-making model for venture capitalists in choosing start-up businesses in Iran with the emphasis on sanctions. The research method is exploratory (qualitative-quantitative). The statistical population in the qualitative section was 30 university professors and executive elites in the fields of management and in the quantitative section was 150 people and investment elites. In the qualitative part, using the snowball method of dreading theoretical saturation with 16 experts, in-depth interviews were conducted and in the quantitative part, to evaluate the model, a researcher-made questionnaire was distributed among 90 samples by relative cluster sampling method. The validity of the questionnaire was confirmed by face-content method and its reliability by Cronbach's alpha method. Data were analyzed by heuristic and confirmatory factor analysis using SPSS and AMOS software. In Iran, during the embargo period, it has 16 dimensions as follows: causal variables (factor of continuous improvement and development of venture capital investment, investment, operation and support of smart business structure, structure and accumulation of venture capital companies and operation and support of private centers), variables Background (market and customer analysis, analysis and segmentation of stable dynamic digital market, development and maintenance of customer relationship, skills and management of the organization), intervention variables (policy setting and maintenance to overcome limitations, forecasting the formation of knowledge-based organization, manpower Efficient and development of production process), strategic variables (optimal analysis and development of products, identification of threats and challenges, innovative strategies, recognition and financing) and outcome (increase of investments, improvement of employment, comprehensive development) Innovative paths and the realization of development).


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