NITI Aayog has introduced the Techno-Commercial Readiness and Market Maturity Matrix (TCRM Matrix) framework, an innovative assessment tool aimed at transforming technology evaluation, encouraging innovation, and nurturing entrepreneurship in India.

Reason :

According to the Global Innovation Index 2022, India was ranked 40th in the world in terms of R&D expenditure as a percentage of GDP.

India’s start-up ecosystem has grown rapidly, with over 50,000 start-ups in the country. 

TCRM Matrix stands for Techno-Commercial Readiness and Market Maturity Matrix :- An assessment tool designed to revolutionize technology evaluation, foster innovation, and fuel entrepreneurship in India.

1. The Technology Readiness Level (TRL) was designed to give a framework for assessing a technology’s readiness and communicate more effectively about the risks and opportunities associated with a given technology by utilizing standard language to express the maturity of a technology.
2. The Commercialization Readiness Level (CRL) will assess various indicators which influence the commercial and market conditions beyond the technology maturity. It assess how a new technology could be commercially successful all the way through to commercial availability and wider acceptance within the target market.
3. Market Readiness Level (MRL) is a methodology used to evaluate how close to the market the project outputs. It is used to assess how ready your product or service is to take to market as a commercial offering for a group of customers.

Way Forward : The adoption of the TCRM Matrix framework necessitates a comprehensive analysis and contextualization within the unique national and sectoral innovation landscape. This will help policymakers in making effective decisions to foster innovation and drive growth.