NITI Aayog has taken a major stride towards advancing innovation & entrepreneurship with the launch of the Techno-Commercial Readiness and Market Maturity Matrix (TCRM Matrix) framework. Presented as part of the NITI Working Paper series, this groundbreaking assessment tool promises to revolutionize technology evaluation, foster innovation, and fuel entrepreneurship in the country.
The TCRM Matrix framework builds on the foundations of well-established technology assessment frameworks like the Technology Readiness Level (TRL), Commercialization Readiness Level (CRL), and Market Readiness Level (MRL). By amalgamating the fundamental principles of these frameworks, the TCRM Matrix offers a holistic assessment model that delivers comprehensive insights and practical intelligence to stakeholders throughout the technology development cycle.
The working paper offers clear and practical guidelines for integrating the TCRM Matrix framework within India’s broader innovation ecosystem. Policymakers, strategists, academics, and investors are encouraged to harness the full potential of this framework to drive positive change. Its adoption necessitates a thorough analysis and customization according to the unique national and sectoral innovation landscapes.
Commenting on the significance of the Techno-Commercial Readiness and Market Maturity Matrix (TCRM Matrix) framework, Dr. V.K. Saraswat, Member (Science & Technology), NITI Aayog, expressed, “The introduction of this framework marks a momentous milestone for India’s innovation and entrepreneurship landscape.
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 jointly authored by Dr. V.K. Saraswat, Member, NITI Aayog, and Dr. Neeraj Sinha, Senior Adviser, along with Naman Agrawal, Specialist, Naba Suroor, Associate, and Siddhey G Shinde, Young Professional, all from NITI Aayog. Their collaborative efforts have resulted in a well-crafted framework that has the potential to significantly impact India’s innovation landscape.
The Government of India, through NITI Aayog, remains steadfast in its commitment to fostering innovation and entrepreneurship. The release of the TCRM Matrix working paper demonstrates the government’s continued efforts to drive technological advancements and fuel economic growth. This framework is poised to play a pivotal role in catalyzing India’s innovation ecosystem and creating an enabling environment for transformative ideas.
As the nation strides towards a brighter future, the Techno-Commercial Readiness and Market Maturity Matrix (TCRM Matrix) framework offers a promising pathway for India to assert itself as a global hub for innovation and entrepreneurship.
Stakeholders across various sectors are eager to leverage this pioneering tool to unlock the true potential of technological advancements and drive the nation towards unprecedented progress.