ارش خواجوي قانع داورزني

Startups have become one of the important sectors of the country's economy for some time and have prepared the foundations for the country's economy to move towards a knowledge-based economy. One of the prerequisites for the success of these startups is attracting the capital they need. This is achieved when the investor can properly value the startup and invest if the possible return is appropriate. The remarkable thing about startups is their high risk. If only the negative aspects of risk are considered, a large number of worthy startups will leave. On the other hand, not paying attention to the decisions that the startup management team can include in their business process is another problem of classical startup valuation models. In this research, a two-step method for valuing startups with a score card approach and real options analysis has been proposed, so that in the first step, with the score card approach, startups with the lowest private risk are identified, and then the top startups are measured in the second step, which is option analysis. So that the future potential hidden in them can be eva‎luated. In this way, the mentioned weaknesses of classical methods are removed and a fairer valuation of startups is realized.

ارزش‌گذاري استارتاپ , رويكرد كارت امتيازي , آناليز اختيارات واقعي , ارزيابي ريسك

Startup Valuation , Scorecard Approach , Real Option Analysis , Risk Assessment

Arash Khajavi Ghane Davarzani

Ahmad Makui