Start with a decision
A venture does not become ready because its deck has more slides. A useful readiness standard asks whether additional attention and resources could change the project's trajectory. The founder needs to make that case with evidence.
In the Yale Venture Club annual plan, Venture Ready names this point in the development process. It connects early venture development with deeper review and resource judgment.
Build the case from evidence
Begin with a specific problem and identifiable customers. Customer discovery should help explain what people do today, where the difficulty appears, and why a different approach could be useful. A prototype or technical result can then show what the team is able to build.
The case also includes the founders themselves: their commitment, relevant capability, and ability to keep learning. Early traction or a defensible technical insight can strengthen the case, but the form of evidence will differ across projects.
Name the next milestone
End with a concrete next step. What uncertainty will the next experiment, pilot, or release resolve? What would progress look like, and what support would help make it happen? A clear milestone makes it easier to decide whether a resource is useful.
Venture Ready does not promise an investment. A project may need more development and return with stronger evidence. The point is to keep the next requirement specific enough for the founder to act on.