Today's Headlines - 20 July 2023
TCRM Matrix framework to drive innovation
GS Paper - 3 (Economy)
The NITI Aayog 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.
More about the Framework
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.
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.
The TCRM Matrix framework is set to play a pivotal role in catalyzing India's innovation ecosystem and creating a conducive environment for transformative ideas.
#upsc #news #TCRM #matrix #technocommercial #TRL #CRL #MRL #technology #transfer #simultameous #technological #commerical #socialbenefits #pivotalrole #enviroment #transformativeideas
TCRM Matrix framework to drive innovation
GS Paper - 3 (Economy)
The NITI Aayog 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.
More about the Framework
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.
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.
The TCRM Matrix framework is set to play a pivotal role in catalyzing India's innovation ecosystem and creating a conducive environment for transformative ideas.
#upsc #news #TCRM #matrix #technocommercial #TRL #CRL #MRL #technology #transfer #simultameous #technological #commerical #socialbenefits #pivotalrole #enviroment #transformativeideas
Today's Headlines - 22 July 2023
India, Sri Lanka adopt vision document
GS Paper - 2 (International Relations)
India and Sri Lanka adopted an ambitious vision document to significantly expand economic partnership after wide-ranging talks between Prime Minister Narendra Modi and Sri Lankan President Ranil Wickremesinghe. In his statement, the PM, referring to the economic difficulties in Sri Lanka last year, said India stood "shoulder-to-shoulder" with the people of the island nation during the crisis as a close friend.
More about the document
An agreement for launch of the UPI payment system in Sri Lanka will result in fintech connectivity between the two sides.
The security interests and development of India and Sri Lanka are intertwined and it is necessary to work together keeping in mind each other's security interests and sensitivities. A vision document for economic partnership has been adopted.
The vision is to accelerate mutual cooperation in areas of tourism, power, trade, higher education, skill development and connectivity.
The vision is to strengthen maritime, air, energy and people-to-people connectivity between the people of both the countries.
It was decided that talks will start soon on an agreement on economic and technological cooperation.
A feasibility study will be conducted on the India-Sri Lanka petroleum pipeline.
On the fishermen issue, the prime minister said it should be handled under a humanitarian approach.
#upsc #news #india #srilanka #document #ambitious #economic #launch #agreement #UPI #payment #development #cooperation #tourism #technological #cooperation #feasibility #study #petroleum #pipeline
India, Sri Lanka adopt vision document
GS Paper - 2 (International Relations)
India and Sri Lanka adopted an ambitious vision document to significantly expand economic partnership after wide-ranging talks between Prime Minister Narendra Modi and Sri Lankan President Ranil Wickremesinghe. In his statement, the PM, referring to the economic difficulties in Sri Lanka last year, said India stood "shoulder-to-shoulder" with the people of the island nation during the crisis as a close friend.
More about the document
An agreement for launch of the UPI payment system in Sri Lanka will result in fintech connectivity between the two sides.
The security interests and development of India and Sri Lanka are intertwined and it is necessary to work together keeping in mind each other's security interests and sensitivities. A vision document for economic partnership has been adopted.
The vision is to accelerate mutual cooperation in areas of tourism, power, trade, higher education, skill development and connectivity.
The vision is to strengthen maritime, air, energy and people-to-people connectivity between the people of both the countries.
It was decided that talks will start soon on an agreement on economic and technological cooperation.
A feasibility study will be conducted on the India-Sri Lanka petroleum pipeline.
On the fishermen issue, the prime minister said it should be handled under a humanitarian approach.
#upsc #news #india #srilanka #document #ambitious #economic #launch #agreement #UPI #payment #development #cooperation #tourism #technological #cooperation #feasibility #study #petroleum #pipeline