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KTH IRL METHODOLOGY
“BioPhoT will use the following tools to evaluate research and innovation projects at entry, mid-term and final stages KTH Innovation Readiness Level a methodology developed by the KTH Royal Institute of Technology.
The KTH IRL is a useful tool for research teams and Technology Transfer Offices (TTOs) beyond BioPhoT to assess the maturity of projects with commercial potential and to plan the work/tasks to be carried out to move a specific idea/technology towards commercialisation.
KTH Innovation Readiness Level Methodology.
- helps to assess the readiness of an innovation at different stages of its development
- covers all critical aspects: technology, market, business model, team, intellectual property and funding readiness
- provides a structured approach to the effective development and commercialisation of innovations
- helps identify critical points and priorities for the next steps in development
The KTH IRL framework is based on six key dimensions of innovation development, each with a scale of 1-9 levels of readiness, with clear requirements and targets to be met at each level:
- Customer Readiness Level (CRL) - confirm customer needs and interest
- Technology Readiness Level (TRL) - develop and test a technology, product or service
- Business Model Readiness Level (BRL) - to ensure the sustainability of the business model (financially, socially, environmentally)
- IPR Readiness Level (IPRL) - clearly define and protect intellectual property rights
- Team Readiness Level (TMRL) - assemble and develop a competent and coherent team
- Funding Readiness Level (FRL) - to provide the necessary funding to turn an idea into a marketable product
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