NITI Aayog unveils TCRM Matrix framework to drive innovation in India

economictimes.indiatimes.com:

The NITI Aayog, on Tuesday, released the Techno-Commercial Readiness and Market Maturity Matrix (TCRM Matrix) framework, an assessment tool that will allow stakeholders to jointly assess projects at the technology readiness level (TRL), commercialization readiness level (CRL), and market readiness level (MRL) scales. The framework is expected to help the government prioritize funding, setting regulations, mitigate risks and enhance public-private partnership.

Further, it is expected that the TCRM Matrix will help investors evaluate the commercialization and market readiness of their portfolio companies while industry and start-ups can use the tool for internal project planning and decision making on technology transfer or acquisition. “Whereas there are a large number of frameworks that focus on one aspect for assessment, the insights they offer are limited in their scope.

Hence, there is a need to encourage simultaneous assessment of technological, commercial, and market readiness,” the Aayog said in the working paper which lays out the TCRM Matric framework. NITI Aayog member VK Saraswat has authored the working paper along with other NITI officials.

According to the working paper, the proposed TCRM Matrix framework seeks to fill these gaps through a joint assessment and can be useful in promoting innovation, reducing risk, and achieving economic and social benefits. “In particular for the government, this framework can be used to make informed decisions about investments, policies, and regulations,” it said.

The working paper provides clear guidelines for integrating the TCRM Matrix framework within the broader innovation ecosystem. However, the adoption of the TCRM Matrix framework necessitates a comprehensive