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Hard tech is defined as technologies rooted in physical or biological sciences applied to manufacturing and industrial innovation. The report explains economic viability, introduces TEA modeling parameters and economic benefit metrics, and outlines when TEA should be performed. It then proposes actionable recommendations for education, specialist support, and building a web hub to grow TEA as a field, plus an example of policy and strategy application.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/techno-economic-analysis-for-hard-tech-innovation-february-2022-executive-summary-recommendations-and-tea-framework/657353/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/techno-economic-analysis-for-hard-tech-innovation-february-2022-executive-summary-recommendations-and-tea-framework/657353.png","ImageObject",300,407,{"name":92,"@type":93},"Sophia Brooks","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-30","2026-10-26",true,{"@type":102,"interactionType":103,"userInteractionCount":19},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"How does the report define hard-tech and what industries does it cover?","Question",{"text":112,"@type":113},"Hard tech refers to technologies rooted in physical or biological sciences applied to manufacturing or industrial innovation. It spans chemical process, bioprocess, energy, and materials industries with applications such as carbon capture, batteries, biofuel production, and semiconductors.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"What is techno-economic analysis (TEA) and what inputs does it use?",{"text":117,"@type":113},"TEA uses analytical modeling to examine how technical and financial parameters influence economic benefit. It includes technical inputs like R&D results and engineering assumptions, financial inputs like material, utilities, waste treatment, and labor, and economic outputs such as net present value and payback.",{"name":119,"@type":110,"acceptedAnswer":120},"Why is TEA important earlier in the development process?",{"text":121,"@type":113},"The report argues that earlier and more accurate estimation of benefits, costs, and uncertainty helps teams redirect effort away from dead ends toward higher-impact objectives. Early-stage TEA can guide design tradeoffs and development risks using increasingly refined models as the technology matures.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},657353,1792977805,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":19,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":129,"read_time":144},962084925636,"https://ap-avatar.wpscdn.com/davatar_994ba38a5ba835b3df7d355c54d3ed8d","Techno-Economic Analysis for Hard-Tech Innovation  \nAccelerating hard-tech development in the United States at marginal cost.  \nFebruary 2022  \nPrepared by Chris Burk with contributions by Tom Kalil, Beth Zotter, and Ilan Gur Funded by Schmidt Futures  \nEXECUTIVE SUMMARY  \nHard-tech innovations are characterized by substantial scientific or engineering challenges. In practice, this can translate into long, expensive R&D timelines and high capital costs for implementation.  \nFor the purpose of this report, hard tech refers to technologies rooted in the physical or biological sciences as applied to manufacturing or industrial innovation. Hard tech spans chemical process, bioprocess, energy, and materials industries with applications ranging from carbon capture to batteries, biofuel production, semiconductors, and beyond. Hard-tech innovation, therefore, plays an essential role in achieving important national goals, for example:  \n● Reducing gas emissions & attenuating global warming  \n● Decarbonizing industry and energy systems  \n● Advancing quantum computing and next-generation semiconductors  \n● Growing the economy  \n● Expanding applications for synthetic biology  \n● Achieving energy independence  \n● Strengthening national security  \nLarge amounts of private, institutional, and government funding are directed toward developing hard-tech innovations for commercialization. Large amounts of time, talent, and lab space are correspondingly committed.  \nAccording to a National Science Foundation report, the U.S.  \ngovernment-funded $19 billion in research & development (R&D) within the manufacturing industries during 2018.  \nThis paper, which is based on the author’s work with more than 20 science entrepreneurs in the Activate Fellowship as well as many other founders at a similarly-early startup stage, describes how a relatively small investment in early-stage techno-economic analysis (TEA) could substantially increase the impact of these larger investments, and thereby increase the rate and impact of hard-tech innovation in the United States. It provides the following specific recommendations to practitioners and policymakers:  \nTechno-Economic Analysis for Hard-Tech [Innovation | Activate.org](Innovation | Activate.org) 2  \n1. Develop an online course to educate technology developers, program managers, and investors in the use and interpretation of TEA.  \n2. Provide innovators with access to a group of specialists to support them in developing techno-economic models and using TEA to guide development.  \n3. Stimulate the growth of TEA as a field by creating an online web hub and using targeted incentives.  \nFinally, the paper presents an example of how TEA could be used to inform policy/strategy as it relates to hard-tech innovation.  \nTechno-Economic Analysis for Hard-Tech [Innovation | Activate.org](Innovation | Activate.org) 3  \nCONTENTS  \nBackground  \nThe role of economic viability in hard-tech innovation 4  \nWhat is techno-economic analysis? 4  \nExamples of using TEA 6  \nHow much time and money is required for TEA? 7  \nWhen does it make sense to perform TEA? 7  \nSoftware platforms for TEA: Spreadsheets & Process simulators 7  \nMethodology & accuracy 8  \nRelationship to market analysis 9  \nHistory and centers of excellence 10  \nProblem Statement  \nLack of awareness 11  \nLack of education 11  \nInexperienced practice 11  \nReliance on a good story 12  \nSolutions  \nEducation 13  \nCentralization 14  \nField development 16  \nPolicy & Strategy  \nPolicy-targeted modeling 18  \nUsing TEA to inform policy decisions 19  \nClosing thoughts on TEA, early-stage investing, and S&T policy 21  \nConclusion 22  \nAcknowledgments 23  \nAppendices 24  \nTechno-Economic Analysis for Hard-Tech [Innovation | Activate.org](Innovation | Activate.org) 4  \nBACKGROUND  \nThe Role Of Economic Viability In Hard-Tech Innovation  \nIf a technology is to be useful for solving real-world problems, it needs to be economically viable. Its benefits must outweigh its costs. Si","cbCaiiuldSwWBkqb","https://ap.wps.com/l/cbCaiiuldSwWBkqb","pdf",548628,32,"English","# Executive Summary\n# Background\n## The role of economic viability in hard-tech innovation\n## What is techno-economic analysis?\n## Examples of using TEA\n## How much time and money is required for TEA?\n## When does it make sense to perform TEA?\n## Software platforms for TEA: Spreadsheets & Process simulators\n## Methodology & accuracy\n## Relationship to market analysis\n## History and centers of excellence\n# Problem Statement\n## Lack of awareness\n## Lack of education\n## Inexperienced practice\n## Reliance on a good story\n# Solutions\n## Education\n## Centralization\n## Field development\n# Policy & Strategy\n## Policy-targeted modeling\n## Using TEA to inform policy decisions\n## Closing thoughts on TEA, early-stage investing, and S&T policy\n# Conclusion\n# Acknowledgments\n# Appendices","[{\"question\":\"How does the report define hard-tech and what industries does it cover?\",\"answer\":\"Hard tech refers to technologies rooted in physical or biological sciences applied to manufacturing or industrial innovation. It spans chemical process, bioprocess, energy, and materials industries with applications such as carbon capture, batteries, biofuel production, and semiconductors.\"},{\"question\":\"What is techno-economic analysis (TEA) and what inputs does it use?\",\"answer\":\"TEA uses analytical modeling to examine how technical and financial parameters influence economic benefit. It includes technical inputs like R\\u0026D results and engineering assumptions, financial inputs like material, utilities, waste treatment, and labor, and economic outputs such as net present value and payback.\"},{\"question\":\"Why is TEA important earlier in the development process?\",\"answer\":\"The report argues that earlier and more accurate estimation of benefits, costs, and uncertainty helps teams redirect effort away from dead ends toward higher-impact objectives. Early-stage TEA can guide design tradeoffs and development risks using increasingly refined models as the technology matures.\"}]","Techno-Economic Analysis for Hard-Tech Innovation - February 2022 - Executive Summary, Recommendations, and TEA Framework | PDF",81]