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Innovation Commercialization Roadmap

I taught innovation and entrepreneurship classes at the University of Arizona. On the whiteboard in my office, I had drawn a roadmap of the new venture creation process.

Essentially, it's an entrepreneurship checklist ... most of the key elements that should be considered when putting together a plan for a new business venture. At it's core, entrepreneurship is innovation commercialization.
Some students and colleagues asked if they could take a photo of the whiteboard. Of course, I said. And I did the same. Took a photo, but ... I wanted to add a bit more here and there. So ... the diagram you see today is the result. 
Do feel free to let me know what you think, pros and cons. -- Jim
PDF and PNG versions are available here: