Designing and Validation an Investment Model in Startups of Skill-Oriented Universities

Legal requirements and increasing attention to skill training has stimulated start-up ideas in this field. But, there is no government or private financial support for them, or it is not enough to make them fruitful. The purpose of this study was to present and validate an investment model in startups of skill-oriented universities in Iran.

The present applied study was of mixed and exploratory type. In the qualitative part, the data was collected through interviews with 14 experts familiar with the startup investment of skill-oriented universities. According to the primary data and phenomenological analysis, the investment model was presented. In the quantitative part, according to the findings of the qualitative part, a questionnaire was designed and used. The statistical population was a quantitative part of the headquarter and provincial managers of The University of Applied Sciences and Technical and Vocational University and the managers of the country's venture capital trade association, who were randomly surveyed. Quantitative data analysis was done through structural equation model and PLS software.

According to the findings, 14 categories were identified as model indicators. The categories include valuation of startups, risk-taking of investment, acceptance and acceptability of society and trust of investors on skill-oriented universities, macroeconomic conditions, university work quality, legal protections, sustainability, innovation and entrepreneurial power of startups, investment efficiency, teamwork in setting up and entrepreneurial marketing. After performing quantitative analysis and fitness of the research model, all the categories of the qualitative part had a significant, and the model was approved.

The results showed that investing in startups of skill-oriented universities is a positive and developmental thing. Also, the indicators of the model with the exception of indicators of Innovation in academic startup ideas, acceptability of society and trust of investors in skill-oriented universities are somewhat similar to the general and existing investment challenges of Iran's specific political and economic conditions.