Technology Readiness Levels: A Framework for Deep-Tech Investors

By Pooja Akkem, SilverX Fund

NASA's Technology Readiness Level (TRL) scale — a nine-point framework from basic research (TRL 1) to proven operational systems (TRL 9) — is an essential tool for deep-tech investors navigating the "valley of death" between lab and market.

The TRL Scale for Investors

TRL 1–3: Basic and applied research — pre-investment territory, best suited for grants and university spin-outs
TRL 4–6: Component and system demonstration — the primary entry point for deep-tech seed investors
TRL 7–9: Prototype through proven system — Series A territory where commercial validation begins

Investment Implications

Most venture capital targets TRL 6–8 companies, leaving a funding gap at TRL 4–5 where technology de-risking requires capital but commercial metrics don't yet exist. SilverX Fund specifically seeks companies navigating this transition, backed by founders with deep domain expertise.

Published by SilverX Fund Research. View all research