Evaluating the commercial potential of emerging technologies Online publication date: Mon, 18-Aug-2003
by Ravi K. Jain, Andrew O. Martyniuk, Melinda M. Harris, Rachel E. Niemann, Karin Woldmann
International Journal of Technology Transfer and Commercialisation (IJTTC), Vol. 2, No. 1, 2003
Abstract: The early evaluation of emerging environmental technologies allows those demonstrating commercial potential to be further developed in ways that would enhance the chances of successful technology transfer. Over the past six years, the comprehensive Strategic Technology Evaluation Program (STEP) model has been developed and continuously modified to evaluate the commercial potential of emerging environmental technologies. Versions of the model have been tested on over 100 environmental technologies and in comparison with benchmarked market opportunity analyses, proved to be the most comprehensive tool developed. The current refinements of the STEP model present enhancements to its structure and terminology, technology screening process and the training of evaluators. Potential uses of the STEP model include technology screening, technology evaluation and the prediction of factors affecting the commercial potential of emerging environmental technologies.
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