Exploring the Process of New Venture Creation Decision-Making in Iran High-Tech Industries: Conceptualization with a Non-Teleological Approach

Decision-making by entrepreneurs is a process that cannot be explained by existing models. Literature analysis reveals a gap due to the teleological approach of existing models. This research aims to conceptualize central elements of new venture creation decision-making process in a selected sample of nascent entrepreneurs in Iranian high-tech industries based on a non-teleological approach and by a qualitative and explorative plan. The research has fundamental view and explorative purpose and the strategy of qualitative research is multiple case studies. The research sample includes active nascent entrepreneurs of high-tech nano and bio-technology industries of Tehran and the sample size was determined by theoretical saturation. After finalizing the interview protocol, data collection was conducted through qualitative event-based interviews with 20 nascent entrepreneurs. After coding, categorizing and validating the research findings, central elements of new venture creation decision-making process was recognized. Accordingly, entrepreneurial orientation and competency, entrepreneurial meta-cognition, primary actions and feedback receiving and positive attitude toward changes are the central elements of new venture creation decision-making process.