A New Investment Model in Technology Commercialization: Case Study of Islamic Azad University

Document Type : Original Article

Authors
Alireza Tavakoli Toroghi 1
Mahdi Masahi Khourasgani 2
Hosein Hamisheh Bahar 3
Davod Samari 4
1 Assistant Professor, Computer Science, Faculty of Mathematics, University martyr Beheshti
2 PhD student, Engineering, Faculty of Industrial Engineering and Management Systems, Amir Kabir University
3 Graduate Student, Financial Engineering, Faculty of Industrial Engineering and Management Systems, Amir Kabir University
4 Associate Professor, College of Agriculture and Natural Resources, Islamic Azad University of Karaj
Abstract
Regarding the great importance of commercialization process of technology and its influence on development, progression and improvement of economy, there is great necessity for some centers to work in this area professionally. Thus, in this research we proposed a business and investment model for science and technology parks' management considering the experience of preeminent countries in technology commercialization. As a case study, the proposed model is employed in Islamic Azad University Science and Technology Park. According to our study on different models of management in science and technology parks in Iran, the propounded model for Islamic Azad University Science and Technology Park is the first nongovernmental model used in such an extent.  The possibility of direct and indirect investment in innovative companies existing in the park is a great advantage for Islamic Azad University. Moreover, supervision, administration and cooperation of the park are some privileges for companies existing in it. Furthermore, various commercialization services in the form of the Service Chain, on the one hand, and the efforts in order to attract other venture capitalists, on the other hand, are some distinctions of the proposed model.
Keywords
Investment in Technology Commercialization
Islamic Azad University Science and Technology Park
Venture Capital
Commercialization Financing
Service Chain
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