he Institution’s Innovation Council of LNCT&S in association with the Chemistry Department of LNCT GROUP conducted an expert talk on “Process of Innovation Development & Technology Readiness Level (TRL) & Commercialisation of Lab Technologies & Tech Transfer” on 04.02.2023. Expert was Famous eminent scientist and academician *Dr. Balram Singh* , Director, Botulinum Research centre & President of Indian Institute of Applied Sciences, University of Massachusetts, USA.

The speaker first explained about innovation development and the various processes involved in developing a new product. He explained the various stages in detail and emphasized on those stages where the mentors can provide the required guidance to students. The speaker then explained about Technology Readiness Levels. TRL’s measure the maturity level of a technology throughout its research, development and deployment phase progression. TRL’s are based on a scale from 1 to 9, with 9 being the most mature technology. The last part of the session dealt with commercialisation of technology and tech transfer. Technology transfer, or Tech Transfer a.k.a. transfer of technology (), is a process in which technology or knowledge developed at one organisation is transferred to another, typically for the purpose of commercialisation. Technology transfer can be accomplished through a variety of methods including licenses to use protected intellectual property, and may also include exchange of know-how and materials. Commercialising technology requires the ability to identify potential markets, develop products that satisfy those needs, and manage distribution channels. The session was informative.

Around 300 participants attended the event