prioritizing development and success challenges of biotechnology spin off companies

one of the main solutions to commercialize intellectual assets of universities and research centers is developing spin off companies. the main objective of this article is identification and prioritization of the challenges which these firms confront with to become successful. to address the objective, we used exploratory mixed method. after investigating the related literature, we made eleven interviews with biotechnology commercialization experts and some key chllanges were extracted by using thematic analysis. in the quantitative section, we prioritized these challenges using confirmatory factor analysis, t and friedman test. according to the research results, 41 challenges were classified into six dimensions. the most important challenges included a) lack of information and, precise understanding about market and customer needs, b) lack of supportive pricing mechanisms and c) ultural gap between research centers and industrial firms.