The present study aimed to design and validate a model of technological corporate entrepreneurship in the petrochemical industry with an emphasis on key determinants of innovation development and organizational competitive advantage. This applied research employed a mixed-methods (qualitative–quantitative) design. In the qualitative phase, grounded theory and semi-structured interviews with 18 academic and industrial experts were used to identify the main concepts and dimensions of the model. The qualitative data were analyzed through open, axial, and selective coding, resulting in the extraction of 10 core categories and 35 concepts. In the quantitative phase, the statistical population consisted of managers and experts working in the petrochemical industry, from which 291 participants were selected using Cochran’s formula. Data were collected using a researcher-made questionnaire based on a five-point Likert scale. Content validity and construct validity were confirmed through expert review and confirmatory factor analysis, respectively, while reliability was confirmed with a Cronbach’s alpha coefficient of 0.89. Data analysis was conducted using SPSS and SmartPLS software through confirmatory factor analysis and structural equation modeling. The results of confirmatory factor analysis indicated that all constructs had factor loadings above 0.70, average variance extracted values above 0.50, and composite reliability values above 0.80, confirming the adequacy of the measurement model. Structural equation modeling revealed that innovative leadership (β=0.17), innovation and technology growth (β=0.23), strategic resources (β=0.18), and inter-organizational communication (β=0.27) had significant positive effects on technological corporate entrepreneurship. Furthermore, technological corporate entrepreneurship significantly affected organizational outcomes (β=0.33) and organizational consequences (β=0.45). The model fit indices, including CFI=0.96, RMSEA=0.042, and χ²/df=2.58, demonstrated an acceptable model fit. The findings demonstrated that the development of technological corporate entrepreneurship in the petrochemical industry depends on strengthening innovative leadership, technological growth, strategic resources, and inter-organizational interactions. Moreover, technological corporate entrepreneurship can improve organizational performance, enhance innovation capability, increase competitive advantage, and contribute to long-term organizational sustainability. The proposed model provides a localized and practical framework for policymakers and managers in the petrochemical industry to foster innovation ecosystems and technological entrepreneurship.