Technological Readiness Level

Technological Readiness Level Framework is developed by NASA to understand the market positioning of a technology at the time of acquisition. It originally defined a technology to be under seven levels of maturity which it later extended to nine levels.

This was later extended by European Space Agency and then expanded out of the core field. The purpose of this is activity is not to do a detailed study of the technology but to understand where exactly it is placed. For instance, if you are looking at a start up, you are looking at Technology Demonstration phase of the maturity level as that would make you both an early bird and an opportunity to define the technology-market fit as it suits your needs. The formal definition by NASA goes thus.

Remember, this is not a controlled framework but just gives an approximate indication as to where and how the technology is placed. Combining with other related technologies, this will tell us whether one should proceed further in investing on a technology or in general, a concept.