Introduction When explaining the technology development life cycle (TDLC), it is necessary to include the technology transfer process (TTP) and the funding sources that are out there. Without discussing all three of these areas it would be difficult to understand how an idea for an invention makes it to being a household item. The role of the TDLC is to show how a technology develops during each of the five stages. The TTP shows how the technology transitions between these stages when ownerships of the project changes. Lastly, where the funding comes from and why investors stop investing.
Technology Development Life Cycle The TDLC consists of five steps: basic research, proof-of-concept, early-stage technology development (ESTD), product development, and production (Branscomb, 2002). These five steps help illustrate what is required for a technology to go from its basic research stage to being put on the market. In its early stages, the technology is used to develop an idea and prove that it can be done. Take Graphene for example, the basic research of this technology would have included identifying its properties to determine if it is a flexible material (Chaochen, Tao, Jiangang, Qinghua, Sen, Haibin, & Haimei, 2015). Then the proof of concept would be showing that graphene is a flexible substance that can potentially be incorporated into devices to increase their durability (Chaochen, et. al., 2015). The third step, ESTD, is where a business case would be made that