چكيده فارسي :
This study proposes an approach for estimating discount rate in startups during their startup and initial growth in emerging markets. The model is based on a combination of qualitative methods and the DCF method. The approach was used to estimate discount rate via the risk-free rate, risk premium, team risk, business risk, and industry risk. According to the findings, if a business consisted of a perfect and experienced team and in good business conditions, it would have a 36% discount rate plus risk-free rate. However, if the business consisted of a weak and inexperienced team and in the bad business conditions, the discount rate would be 88% plus the risk-free rate
