Modeling and policymaking the techno-sectoral innovation system in the petrochemical industry using system dynamics

Science and technology policymaking refers to policies that facilitate technology progress to the market phase, idea to wealth and technology exploitation. The execution of science and technology development policies in each country has an effective role in increasing entrepreneurship and GDP by reinforcing knowledge-based companies and research institutes. Therefor, the paper focuses on innovation systems of petrochemical industry that are one of the important pillars of science and technology policymaking. System dynamics is used to model the techno-sectoral innovation system of petrochemical industry. Trend of motivation motors of petrochemicals based on technology motors is analyzed by causal loops of system dynamics. Also, system dynamics present a model for science and technology policymaking.The proposed model has been validated and the results show the acceptable performance of all innovation system functions (more than 85%). Then, 4 scenarios have been proposed to give each technology, a reward by industry. Finally the results of scenario analysis show that the industry should allocate its rewards to each technology in a tunable way and based on their performance in order to increase industry profits.