What are technology readiness levels and how do they relate to funding?

What are technology readiness levels and how do they relate to funding?

Technology readiness levels (TRLs) are a systematic metric used to assess the maturity of a technology. They range from TRL 1 (basic principles observed) to TRL 9 (actual system proven in operational environment). Understanding TRLs helps investors and funding agencies determine the risk and potential of funding a project.

How can I determine the TRL of my project?

To determine the TRL of your project, evaluate its current state against the TRL definitions. Consider factors like development stage, testing completed, and operational use. You can also consult with experts in your field for a more accurate assessment.

What funding options are available for different TRLs?

Funding options vary by TRL. Early-stage projects (TRL 1-3) may seek grants or seed funding, while more mature projects (TRL 4-6) might attract venture capital or government contracts. Established technologies (TRL 7-9) often qualify for larger investments or partnerships.

Can you give examples of technologies at different TRLs?

Sure! For TRL 1, you might have basic research on renewable energy. TRL 4 could be a prototype of a solar panel, while TRL 7 might be a fully operational wind farm. TRL 9 could be a commercial electric vehicle in widespread use.