Bridging the Gap to Commercial Application of Innovation

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The project objective is to increase the rate of innovation exhibited by firms in Trinidad and Tobago The solution proposed by CARIRI involves building capacity in Technology Transfer Services (TTS) via the provision of technical support for the commercialization of innovation by local firms . The proposed Innovation Advisory Support (IAS) program will support individuals and firms with innovative ideas through the ideation with special expertise in idea validation, commercialization of IP and licensing. The program will support participants via the following process (1) proof of novelty (2) definition of the IP asset inherent in the innovation (3) development of the value proposition (4) market demand assessment (5) rapid pretotyping (as opposed to traditional prototyping) to demonstrate functionality and (6) commercialization either via business support services or sale/licencing to an existing commercial enterprise. In the latter case, the program provides trusted intermediation between inventors/innovators and established firms that may be interested in acquisition or licencing of an innovation for commercialization.