Leveraging Capital Networks for Entrepreneurial Success

This study analyzes Iran's entrepreneurial ecosystem to identify key actors and collaborative networks that facilitate entrepreneurial performance and economic development. By employing social network analysis (SNA), we examined interactions among 1941 actors—comprising 1665 entrepreneurial businesses and 276 investors—and calculated 11 network analysis criteria for each. Using the Correlation Coefficient and Standard Deviation (CCSD) method to determine the significance of these criteria, the Additive Ratio Assessment (ARAS) method was applied to rank actors by their performance. Findings highlight closeness centrality as a pivotal factor, with early-stage investors such as accelerators and incubators emerging as key enablers of entrepreneurial success, whereas venture capitalists and late-stage investors played a less prominent role, reflecting potential weaknesses in exit strategies. Broader implications underscore the critical need to strengthen ties between universities, industries, and investors to foster a more resilient entrepreneurial ecosystem, with actionable insights for policymakers, entrepreneurs, and ecosystem stakeholders to optimize cooperation and innovation.