NITI Aayog today released the Techno-Commercial Readiness and Market Maturity Matrix (TCRM Matrix) Framework to Drive Innovation and Entrepreneurship in India.
New Delhi, [18.07.2023] – The NITI Aayog, released, under the NITI Working Paper series, the Techno-Commercial Readiness and Market Maturity Matrix (TCRM Matrix) framework, a pioneering assessment tool designed to revolutionize technology evaluation, foster innovation, and fuel entrepreneurship in India.
The Working Paper casts light on the historical evolution of technology assessment frameworks, including the Technology Readiness Level (TRL), Commercialization Readiness Level (CRL), and Market Readiness Level (MRL) scales. By building upon these frameworks’ core principles, the TCRM Matrix framework presents an integrated assessment model that offers in-depth insights and actionable intelligence to stakeholders at every stage of the technology development cycle.
The working paper provides clear guidelines for integrating the TCRM Matrix framework within the broader innovation ecosystem. By doing so, policymakers, strategists, academicians, and investors can unlock its full potential and drive meaningful change. The adoption of the TCRM Matrix framework necessitates a comprehensive analysis and contextualization within the unique national and sectoral innovation landscapes.
“The introduction of the Techno-Commercial Readiness and Market Maturity Matrix (TCRM Matrix) framework is a significant milestone for India’s innovation and entrepreneurship landscape,” said Dr. V.K. Saraswat, Member (Science & Technology), NITI Aayog. “By providing a robust assessment tool, we aim to empower stakeholders across the nation to make informed decisions, enhance technology commercialization prospects, and propel India towards becoming a global leader in innovation.”
The working paper is authored by Dr. V.K. Saraswat, Member, NITI Aayog along with Dr. Neeraj Sinha, Senior Adviser, Sh. Naman Agrawal, Specialist, Ms. Naba Suroor, Associate and Sh. Siddhey G Shinde, Young Professional, NITI Aayog.
The Government of India, through NITI Aayog, remains steadfast in its commitment to fostering innovation and entrepreneurship. The release of this working paper is a testament to the government’s continuous efforts to drive technological advancements and economic growth. The TCRM Matrix framework is set to play a pivotal role in catalyzing India’s innovation ecosystem and creating a conducive environment for transformative ideas.
The link of the said working paper can be accessed here <<https://niti.gov.in/sites/default/files/2023-07/TCRM-Matrix-Framework-FAD3.pdf>>.