The World Economic Forum elevated Trinidad and Tobago to the category of "innovation-driven" economies in 2013, the most developed group of countries. Although the reclassification is a positive development for the twin island Republic, a deficiency in innovation must be addressed for the nation to meet the definition of an innovation-driven economy. The Global Innovation Index Report (GII) from the same year, which ranked Trinidad and Tobago 81st in innovation out of 142 countries, provides evidence of this disparity.

​

To address this disparity, the Caribbean Industrial Research Institute (CARIRI), which is the primary agency of the Government of Trinidad and Tobago with responsibility for developing the country’s technological base, hired Tambourine Innovation Ventures to conduct training on technology commercialization and technology scouting and intelligence to leadership, stakeholders, and key professionals affiliated with CARIRI. Before preparing customized training modules, TIV conducted a survey of trainees who had to assess their current understanding of crucial topics in technology commercialization and scouting/intelligence. The survey informed the training program implemented in two phases, each comprising several online and in-person classes. The first phase was technology scouting, and the second was technology transfer and commercialization.

 

TIV’s tailor-made training program was built on the survey results and incorporated case studies from the region and globally, with a particular focus on, among other things, the significance of the Fourth Industrial Revolution for the Caribbean and how an enabling ecosystem could be established using technology sourcing and intelligence, as well as technology transfer offices. These informative training sessions were held by TIV’s experts. They tackled issues such as technology sourcing and intelligence, acquisition for economic diversification, technology forecasting, technology road mapping, supplier diversification, development of project pipelines, evaluation of projects for viability, technology transfer, time-sequencing and scaling up, innovation financing, intellectual property (IP). The training included case studies worldwide covering specific technology licensing examples and operational issues in a Contract Research and Technology Transfer Office. Standard documents, such as material transfer agreements, IP licensing, term sheets, etc., were exhaustively covered. The engagement concluded with the pre-feasibility report for establishing a technology intelligence, sourcing, and brokerage unit at CARIRI Trinidad and Tobago.