Identifying the success factors of technology- oriented startups in solving the challenges of iran fintech industrial

Subject Areas :

Masoumeh Ayeneh ¹ , Bijan Rezaei ²

1 - 1. Ph.D. Student of Entrepreneurship, Department of Management and Entrepreneurship, Faculty of Sovial Sciences, Razi University, Kermanshah, Iran
2 - 2. Associate Professor Management and Entrepreneurship Department, Faculty of Social Sciences, Razi University, Kermanshah, Iran

Received: 2024-08-06 Accepted : 2024-09-30 Published : 2025-02-23

Keywords: startup, fintech, business, banking,

Abstract :

The main goal of the current research is to identify the success factors of technology-oriented startups in solving the challenges of Iran's fintech industry.  This research has been carried out in the framework of a mixed approach and using the foundational data method.  The collection tool in the qualitative section was selected from the sample by conducting a semi-structured interview.  Then, in the quantitative section, a pair scale with AHP technique was used to rank the factors.  The studied community were experts, faculty members and founders of startups in the fintech industry.  The purposeful sampling method and the selection of the sample according to the snowball process proceeded until the theoretical saturation was reached and 22 people were selected as the sample.  Strauss and Corbin method was used for data analysis in the qualitative part.  For the validity and reliability of the questions, the matching method by the members and the intra-subject agreement method were used.  The findings of the research show that the causal conditions include (focusing on the real needs of customers, the use of advanced technologies, ...), the central phenomenon (the success of technology-oriented startups in solving the challenges of Iran's fintech industry), the background conditions (supporting governance and creating an environment  appropriate business, development of talents and specialized human resources, ...), intervening conditions including (governance and legal support, ...), strategies including (improving the technological capabilities of startups in the field of fintech, creating specialized capital markets to attract investment  ,... ), the consequences include (development and sustainable growth of fintech industry in Iran, improving the quality and efficiency of financial and payment services, ...). Investing in cyber security using encryption and multi-factor authentication technologies can increase user trust.  the use of artificial intelligence and machine learning to analyze data and provide personalized services is of great importance.

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