Investigating the evaluation models of startup companies and identifying the dimensions, criteria and evaluation indicators for startup companies in the idea stage in Iran

Subject Areas : Journal of Investment Knowledge

behzad pahleh ¹ , seyed mozafar mirbargkar ^{2 *} , Ebrahim Chirani ³ , Reza Aghajan Nashtaei ⁴

1 - Department of Business Management, Rasht Branch, Islamic Azad University, Rasht, Iran
2 - partment of Business Management, Rasht Branch, Islamic Azad University, Rasht, Iran
3 - Department of Business Management, Rasht Branch, Islamic Azad University, Rasht, Iran
4 - Department of Business Management, Rasht Branch, Islamic Azad University, Rasht, Iran

Received: 2020-12-05 Accepted : 2021-01-06 Published : 2021-03-21

Keywords:

Abstract :

If we want to divide startup companies into two general categories (1- Startup companies in the idea stage 2- Startup companies in the post-idea stage), we can divide the second category which has cash flow and physical assets by valuation methods such as value method. Net assets (NAV), book value (BV), present value of cash flows (DDM), etc., but are not applicable to the first category, which is in the early stages and lacks cash flows and physical assets. First, methods such as rating card valuation, Dave Brex valuation, aggregation of risk factors can be used. Research by experts, forensic experts, corporate stock valuation experts, etc., and looking for criteria and indicators that are suitable for valuing startups that do not have cash flows and physical assets, which ultimately led to the extraction of criteria and indicators that are appropriate. With Iranian culture and laws and used Ten for evaluating startup companies is in the idea stage, the extracted indicators are presented in the result section of this research.

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