Empowering Emerging Entrepreneurs Using the Web-based New Venture Readiness Assessment Diagnostic

Courtney Price,
VentureQuest

The successful commercial development of technologies is dependent on the business readiness of the team and its commercialization plan, not just the technology. VentureQuest uses a variety of leading-edge on-line assessment tools to quickly identify, evaluate, and select new opportunities with high commercial
potential. We use the New Venture Readiness Assessment web-based tool with early-stage entrepreneurs to access the business acumen of their team, the commercial viability of the idea, and the venture’s capability to build substantial competitive advantage. This talk will introduce the New Venture Readiness Assessment and review best practices in preparing early stage entrepreneurs to understand market forces and the technology commercialization process. It will lay the groundwork for a discussion of business readiness factors that can impede or promote the success of commercialization. Lastly it will discuss ways to empower students and inventors to successfully commercialize their inventions.