NITI Aayog introduces TCRM Matrix framework to revolutionize tech assessment, foster innovation – Crypto News – Crypto News
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NITI Aayog introduces TCRM Matrix framework to revolutionize tech assessment, foster innovation – Crypto News

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New Delhi: The NITI Aayog on Tuesday introduced the Techno-Commercial Readiness and Market Maturity Matrix (TCRM Matrix) framework, aiming to revolutionize technology assessment and fuel innovation and entrepreneurship in the country.

The release of the TCRM Matrix framework under the NITI Working Paper series offers valuable insights and practical intelligence to stakeholders involved in the technology development cycle.

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 NITI Aayog said in a statement.

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 VK 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 was authored by VK Saraswat, along with Neeraj Sinha, Senior Adviser, Naman Agrawal, Specialist, Naba Suroor, Associate, and Siddhey G Shinde, Young Professional, all associated with NITI Aayog.

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Updated: 19 Jul 2023, 01:40 AM IST

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