Objective: The purpose of this research was to design an interpretive structural model of factors affecting venture capital in the entrepreneurial ecosystem of Science and Technology Park of Islamic Azad University.
Conceptual framework: The current research is of mixed type (qualitative and quantitative). In the first phase, a qualitative research method was conducted using thematic analysis, and in the second phase, a quantitative method was conducted based on interpretive structural modeling. The statistical community in both qualitative and quantitative sections, due to the expert-centeredness of the interpretive structural modeling approach, formed experts, which included academic experts and administrators of Science and Technology Park of Islamic Azad University. The purposeful sampling method was of criterion type (the criterion of having more than 10 years of experience) until reaching theoretical saturation. The number of samples included 30 people. Sampling method in the quantitative part, due to the expert-centeredness of the interpretive structural modeling approach, the experts were in the qualitative part (N=20). Two methods of theme analysis (Max QDI software) and Interpretive Structural Modeling (ISM) (Excel software) were used for data analysis.
Findings: 6 main themes of factors affecting venture capital in the entrepreneurial ecosystem of Science and Technology Park of Islamic Azad University have been identified. The individual characteristics of managers, the nature of the project and environmental factors are in the independent cluster, that is, it has a great influence on other factors, and other factors have little influence on it, and support, investment experience, and networking are in the dependent cluster, that is, it is influenced by There are other factors and they have little effect on other factors.
Results: The results of this research can lead to the improvement of performance in the field of risky investment as well as proper support for entrepreneurs in science.