Using technology scouting to deliver open innovation
Pointers for success on how best to use technology scouting to deliver successful, open innovation.
The need to embrace ‘open innovation’ is becoming increasingly recognised in many organisations. However, delivering successful open innovation presents significant management challenges. Technology scouting should be regarded as just one of many activities for fulfilling an open innovation strategy. It is a search and intermediation process that leads to transactions between technology sellers and buyers. Technology scouting is often the job of business developers who may themselves outsource certain tasks to consultants and technology brokers.
In this article we describe the process of technology scouting, outlining the main stages in the process and highlighting five key points to consider for a successful programme. As a general point, technology scouting needs to follow a methodical and systematic approach, irrespective of the technology in question. There are likely to be hundreds or thousands of technology sources to identify and annotate – even in a focused search - and this requires careful collation and tracking of information for later selection.