University Affiliated Venture Capital as a Nontraditional Venture Capital, a Case Study in Iran University of Science and Technology

Abstract

The venture capital is one of the most important infrastructures for technological entrepreneurship, which facilitate growth of new technology based firms not only by providing financial resources, but also through business development services (such as managerial helps or council). So, a gap in the venture capital industry or the unattractiveness of private sector for independent venture investors are the obstacles which the entrepreneurs faced, the reaction of policy makers will be intervention, to shape venture capital funds, these kind of funds are categorized as nontraditional VC funds. Therefore university affiliated VC funds are kinds of nontraditional funds which develop to facilitate creating university spin-offs and to support commercialization of research outcomes. This paper investigates a model which has been developed for creating a nontraditional VC fund, and then the model is localized for shaping a university affiliated venture capital fund in Iran. As a case study, this model is applied for university of science and technology.

Keywords

• nontraditional venture capital
• university affiliated venture capital (uvc)
• barkely model
• entrepreneurial university