What is Technology Scouting?
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What is Technology Scouting?


May 2020 | Technology Management | Florenus

Technology scouting is a part of innovation management. Technology scouts are specialists from a wide range of industries. They look for and identify new trends and innovations to solve specific questions. In addition to the identification of innovative or disruptive technologies, the analysis and evaluation of the potential and possible areas of application of a technology are part of the service of a technology scout. Identification takes place, for example, by attending specialist conferences or trade fairs, via strong cross-sector and cross-technology networks, social media, internet research or observing the venture capital scene. On the one hand, scouting includes research for scientific publications and the research of existing patents, and on the other hand the identification of start-ups with innovative business ideas that have experts and specialist knowledge.

Technology scouting is characterized by cross-industry thinking.

While technologies or processes can be established in one industry, use in other industries is new and can therefore enable new applications. Technology scouts also act as intermediaries between the actors. The idea of ​​transferring new knowledge into an application is not fundamentally new, after all, every day we experience how innovations influence everyday life, make it more comfortable or efficient.

In an environment that is characterized by increasing differentiation and complexity of technologies and allows shorter and shorter innovation cycles, systematic observation and recognition of potential are of particular importance in their early development phase.

What used to be covered by an in-house development department has now developed into an independent field of activity.