Identify reasons for the non-development of venture capital in Iran

Document Type : Original Article

Authors

1 Assistant Professor, Financial Management, University of Allameh Tabatabai

2 Associate Professor, Sharif University of Technology

3 PhD student of Financial Management, University of Allameh Tabatabai

Abstract

Venture capital has a direct impact on the quantitative and qualitative growth of national and international entrepreneurship. The innovation ecosystem of country will not succeed without proper financing. The main objective of this study was to identify reasons for the non-development of venture capital in Iran. In the first stage using a library method and the most important factors in the venture capital development were identified.Then, using the Delphi method and implemented a three-stage agreement about the factors affecting the development of the venture capital industry reached. The results indicate that the reasons for the lack of development of the investment-oriented industry are the low number of patents based on market demand and distinctive innovation plans, the lack of scientific due diligence in the investment process, exit strategy limits, lack of scientific policies and executive plans of this industry in the state, lack of Supportive and incentive laws, the existence of administrative bureaucracy, developing country's economic system, , developing financial system, developing innovative businesses, , developing culture system in this industry, lack of qualitative workforce and professional advice, and the lack of professional training in the venture capital process, (given the success of the global experience and the transfer of domestic experiences(

Keywords

References

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Financial Management Perspective
Volume 7, Issue 20 - Serial Number 20
December 2018
Pages 133-151

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