TCRM Matrix Framework unveiled by NITI Aayog to enhance technology assessment and innovation

Tags: National News

NITI Aayog released the Techno-Commercial Readiness and Market Maturity Matrix (TCRM Matrix) framework for promoting innovation and entrepreneurship in India on 18 July 2023.

An Overview of the news:

• The TCRM Matrix Framework released by NITI Aayog is a pioneering assessment tool developed to revolutionize technology assessment, foster innovation and encourage entrepreneurship in India.
• This action plan paper highlights the historical evolution of the Technology Framework, including the Technology Readiness Level (TRL), Commercialization Readiness Level (CRL), and Market Readiness Level (MRL) scales.
• By building on the core principles of these frameworks, the TCRM Matrix Framework presents an integrated assessment model that provides deep insights and actionable intelligence to stakeholders at every stage of the technology development cycle.
• The Action Plan paper provides clear guidelines for integrating the TCRM Matrix framework within the wider innovation ecosystem.
• By doing so, policy makers, strategists, academics and investors can harness its full potential and drive meaningful change.
• Adoption of the TCRM Matrix framework requires a comprehensive analysis and contextualization within specific national and regional innovation scenarios.
• The launch of the Techno-Commercial Readiness and Market Maturity Matrix (TCRM Matrix) framework is a milestone for India's innovation and entrepreneurship landscape.

National Institution for Transforming India (NITI) Aayog:

• On January 1, 2015, a new institution NITI Aayog was formed in place of the Planning Commission, envisaging maximum governance, minimum government, emphasizing the spirit of 'cooperative federalism'.

Composition of NITI Aayog:

• Chairman: Prime Minister
• Vice President: Appointed by the Prime Minister
• Governing Council: Chief Ministers of all States and Lieutenant Governors of Union Territories.
• Regional Council: The Prime Minister or his nominee presides over meetings of Chief Ministers and Lieutenant Governors to address specific regional issues.
• Ex-officio Membership: Up to four members of the Union Council of Ministers nominated by the Prime Minister.
• Ad-hoc Membership: Two ex-officio members by rotation from leading research institutions.
• Chief Executive Officer: Secretary to the Government of India who is appointed by the Prime Minister for a fixed term.
• Special Invitees: Experts in various fields nominated by the Prime Minister.