The NITI Aayog unveils TCRM Matrix Framework to Revolutionize Technology Assessment and drive Innovation in India
- Recently, NITI Aayog released the Techno-Commercial Readiness and Market Maturity Matrix (TCRM Matrix) Framework to drive Innovation and Entrepreneurship in India.
- It is a pioneering assessment tool designed to revolutionise technology evaluation, foster innovation, and fuel entrepreneurship in India.
A comprehensive Approach
- The TCRM Matrix framework builds upon the core principles of existing technology assessment frameworks, including the Technology Readiness Level (TRL), Commercialization Readiness Level (CRL), and Market Readiness Level (MRL) scales.
- It presents an integrated assessment model that offers in-depth insights and actionable intelligence to stakeholders at every stage of the technology development cycle.
Driving Change
- The working paper provides clear guidelines on 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.
- However, the adoption of the TCRM Matrix framework necessitates a comprehensive analysis and contextualization within the unique national and sectoral innovation landscapes.
Significance
- It aims to empower stakeholders across the nation to make informed decisions, enhance technology commercialization prospects, and propel India towards becoming a global leader in innovation.
- It will play a pivotal role in catalyzing India's innovation ecosystem and creating a conducive environment for transformative ideas.
Prelims Takeaway
- TCRM Matrix Framework
- NITI Aayog