Expert talk on

"Process of Innovation Development and Technology Readiness Level (TRL)" and "Commercialisation of Lab Technologies and Tech-Transfer"

21st February 2024

Institution’s Innovation Council (IIC), Ministry of Education (MoE), Dronacharya College of Engineering, Gurugram organized an Expert Talk on “Process of Innovation Development, Technology Readiness Level (TRL), Commercialization of Lab Technologies & Tech-Transfer” on 21^st February, 2024. Mr. Vijay Arora (Senior Data Analyst, American Express) was the eminent speaker of the session. 280 students attended the session. 

The main objective of the talk was to create awareness among the students and faculty of Engineering and Science courses about the innovative ways of technology readiness level. 

The session focused on importance of innovation and commercialization and make students understand the need and importance of technology readiness. 

The session covered the following topics:

• Process and Implications in Innovation Development
• Understanding Technology Readiness Level (TRL)
• Manufacturing Readiness Level (MRL)
• Investment Readiness Level (IRL)
• Understanding the Metric assessment of Innovation Development stages. 

Prof. (Dr.) Isha Malhotra (Principal, DCE) welcomed the speaker.  Mr. Vijay Arora enlightened the students about the importance of innovation. Mr. Vijay Arora started with the explanation of innovation development and various processes involved in developing a new product. Next Mr. Vijay Arora described Technology Readiness Levels (TRLS) to the students. He said TRL’s measure the maturity level of a technology throughout its research, development and deployment phase progression. He informed students TRL can the measured on scale from 1 to 9 where 1 is the initial phase and 9 is the most mature technology. Moving further he explained the commercialization of Lab Technologies and Tech – Transfer. 

At the end, a brainstorming session was organized and students shared their project ideas with him and cleared their doubts. Afterwards a question-answer session was also taken up and students cleared many doubts. Lastly, Vote of Thanks was given by Dr. Ashima Mehta. 

Benefits/Outcome: Students learned the various steps of Technology Readiness Level and the commercialization of technologies.