The purpose of this study is to understand the development of dynamic capabilities in new ventures. Through the study of documentary resources and semi-structured interviews with 15 companies in IT businesses, in Tehran. questionnaires were collected via purposeful sampling. In the open coding stage, 201 preliminary codes were identified from interview analyses, from which 144 codes were finalized after filtering and integration of similar codes. In the second stage, axial coding was carried out using the axial coding model on the investigated phenomenon. Finally, four main categories were identified for the development of dynamic capabilities, which are the antecedents for the development of dynamic capabilities, including manager features, business features that affect strategic orientations in NV, and, on the other hand, The context also affects both strategic orientations and dynamic capabilities, and all of these factors lead to outcomes of financial, customer, market and in-process.