The NITI Aayog unveiled the Techno-Commercial Readiness and Market Maturity Matrix (TCRM Matrix) framework, with the aim of revolutionizing technology assessment and fueling innovation and entrepreneurship in India.
The release of the TCRM Matrix framework, presented as part of the NITI Working Paper series, provides valuable insights and practical intelligence to stakeholders involved in the technology development cycle.
The Technology Readiness Level (TRL), Commercialisation Readiness Level (CRL), and Market Readiness Level (MRL) scales are only a few of the frameworks for evaluating technological readiness that have evolved through time, according to the working paper.
The TCRM Matrix is an integrated evaluation model that offers in-depth insights and actionable intelligence to stakeholders at every level of the technology development cycle by building upon the fundamental ideas of these frameworks, according to a release from the NITI Aayog.
The working paper also offers clear guidelines for integrating the TCRM Matrix framework within the broader innovation ecosystem.
Policymakers, strategists, academicians, and investors can leverage its potential to drive meaningful change and enhance technology commercialization prospects.
The adoption of the TCRM Matrix framework, according to V.K. Saraswat, Member (Science & Technology), NITI Aayog, is a key turning point for India’s innovation and entrepreneurial scene.
The thorough assessment methodology equips national stakeholders to take well-informed decisions, pushing India closer to innovation leadership globally.
The working paper was authored by V. K. Saraswat, along with Neeraj Sinha, Senior Adviser, Naman Agrawal, Specialist, Naba Suroor, Associate, and Siddhey G Shinde, Young Professional, all associated with NITI Aayog.