<p>This article introduces the venture-ready innovation quotient (VRIQ), a structured multidimensional framework designed to bridge the persistent gap between academic theory and venture capital (VC) due diligence practice. Grounded in foundational management and economic theories—the resource-based view, dynamic capabilities theory, signaling theory, and agency theory—the VRIQ operationalizes innovation assessment for early-stage ventures through a behaviorally anchored scoring rubric. Its principal contribution is a departure from linear checklists and single-composite-score models toward a diagnostic profile that characterizes a venture’s strengths, weaknesses, and risk configuration across three core dimensions: potential, execution, and impact. Preliminary psychometric evidence from a pilot study (<InlineEquation ID="IEq1"> <EquationSource Format="TEX">\(n = 35\)</EquationSource> </InlineEquation>) yields an inter-rater reliability of ICC(2,k) = 0.85 and Cronbach’s <InlineEquation ID="IEq2"> <EquationSource Format="TEX">\(\alpha \ge 0.79\)</EquationSource> </InlineEquation> across all dimensions. For practitioners, the VRIQ provides a structured due diligence and risk management instrument; for scholars, it advances a theoretically grounded and empirically testable research agenda.</p>

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A multidimensional innovation quotient framework for structured early stage venture evaluation in venture capital due diligence

  • Mahdi Khobreh,
  • Ehsan Chitsaz,
  • Mohammad Reza Heidarzadeh

摘要

This article introduces the venture-ready innovation quotient (VRIQ), a structured multidimensional framework designed to bridge the persistent gap between academic theory and venture capital (VC) due diligence practice. Grounded in foundational management and economic theories—the resource-based view, dynamic capabilities theory, signaling theory, and agency theory—the VRIQ operationalizes innovation assessment for early-stage ventures through a behaviorally anchored scoring rubric. Its principal contribution is a departure from linear checklists and single-composite-score models toward a diagnostic profile that characterizes a venture’s strengths, weaknesses, and risk configuration across three core dimensions: potential, execution, and impact. Preliminary psychometric evidence from a pilot study ( \(n = 35\) ) yields an inter-rater reliability of ICC(2,k) = 0.85 and Cronbach’s \(\alpha \ge 0.79\) across all dimensions. For practitioners, the VRIQ provides a structured due diligence and risk management instrument; for scholars, it advances a theoretically grounded and empirically testable research agenda.