Design and Validation of a Policy Model for the Establishment and Development of Knowledge-Based Companies and Presentation of an Optimal Framework

Abstract

This study aimed to design and validate a comprehensive and contextually adapted policy model for the establishment and development of knowledge-based companies to enhance performance, sustainability, and economic growth at the national level. An exploratory sequential mixed-methods design was applied from 2023 to 2025. In the qualitative phase, grounded theory and semi-structured interviews with 15 experts, including policymakers, academics, and practitioners in knowledge-based companies, were conducted to identify the conceptual dimensions. In the quantitative phase, a researcher-made questionnaire was developed from the qualitative findings and distributed among employees of knowledge-based companies in Pardis. Qualitative data were analyzed through open, axial, and selective coding using MaxQDA, while confirmatory factor analysis and structural equation modeling with LISREL were used to test and validate the measurement and structural model. The final model comprised five key dimensions: causal conditions (regulations, governmental duties), intervening conditions (political and economic factors), contextual conditions (ecosystem readiness), strategies (commercialization, facilitation, guidance and governance), and outcomes (economic and social). Model fit indices were excellent (RMSEA=0.036; CFI, NNFI, IFI>0.90). All factor loadings were statistically significant, and the questionnaire demonstrated high internal consistency (Cronbach’s alpha >0.88). The validated model provides a robust framework for designing supportive and strategic policies to advance knowledge-based companies. It offers practical guidance for policymakers, managers, and innovation ecosystem actors to strengthen knowledge-driven entrepreneurship, create employment, and promote sustainable economic development.