NITI Aayog, India’s leading policy think tank, has taken a significant stride towards promoting innovation and entrepreneurship with the introduction of the Techno-Commercial Readiness and Market Maturity Matrix (TCRM Matrix) framework. This groundbreaking framework is designed to transform technology assessment processes and ignite a culture of innovation and entrepreneurship across the country.
The release of the TCRM Matrix under the NITI Working Paper series marks a milestone in India’s quest to become a global leader in innovation. The framework builds upon the principles of existing technology assessment frameworks, such as Technology Readiness Level (TRL), Commercialization Readiness Level (CRL), and Market Readiness Level (MRL) scales. By integrating these principles, the TCRM Matrix offers a comprehensive and integrated assessment model, providing stakeholders with valuable insights and practical intelligence at every stage of technology development.
The working paper associated with the TCRM Matrix offers a historical perspective on the evolution of technology assessment frameworks and provides clear guidelines for integrating the TCRM Matrix within the broader innovation ecosystem. Policymakers, strategists, academicians, and investors can leverage the full potential of this framework to make informed decisions, accelerate technology commercialization, and drive meaningful change in the innovation landscape.
V.K. Saraswat, Member (Science & Technology) at NITI Aayog, lauded the introduction of the TCRM Matrix as a significant milestone for India’s innovation and entrepreneurship ecosystem. This robust assessment tool empowers stakeholders across the nation to harness the power of technology assessment, make informed decisions, and contribute to India’s journey of becoming a global leader in innovation.
It is important to note that the adoption of the TCRM Matrix framework requires a comprehensive analysis and contextualization within India’s unique national and sectoral innovation landscapes. By leveraging this framework’s capabilities, India can unlock its immense innovation potential and establish itself as a formidable force in the global technology arena.
The introduction of the TCRM Matrix framework by NITI Aayog marks a new era in technology assessment in India. With its integrated approach and emphasis on practical insights, this framework promises to shape the technological landscape of the country for years to come. With the support of the TCRM Matrix, India is poised to confidently stride towards a brighter, more innovative future, fostering a culture of entrepreneurship and technological excellence.