Everybody knows technology scouting is important…everybody knows it can be difficult.
Using the # and quality of patents produced as a metric of innovation at IBM, previous research found a balance of internal and external network building was needed, with the most innovative employees spending no more that 50% of their technology scouting effort on external network building. According to the article “Time networking outside the firm implies less time learning about the firm’s innovation needs. And if someone is creating a broad network without reflecting on how to apply what they learn, then the benefits of networking are difficult to realize.” Thus, there are a lot of smart ideas that can be shared with internal networking, while cultivating strong relationships that can lead to implementation.
More recently, a survey was conducted of the top 5 barriers for finding emerging technologies
1. Connectivity to the business
2. Identifying what areas to scout
3. Time to do it
4. Sufficient staffing
5. Sufficient funding
The first two barriers speaks to the need of having a strong internal culture of innovation, with leaders and employees from different departments communicating with one another. That can come in the form of old school face to face meetings, or new school methods like MS Sharepoint to quickly access data.
The latter three speak to the need of having technology scouts, and even seeking outside help. Addressing these resource challenges involves making the case for why scouting activity is important, and showing that it can deliver value to the business. Thus it’s a “simple” question of ROI, or knowing how to best use your resources.
“Mona Vernon, Chief Technology Officer at Thomson Reuters Labs, says that if scouting is focused on business and customer needs, it should lead to pilot tests that allow you to discover its rough edges, or where it is best applied. “
SearchLite can help with technology scouting-How? By addressing 4/5 barriers for identifying emerging technologies We’ll conduct secondary research to identify “hot areas” to scout. We can connect you to universities, start-ups, and established companies focusing on in innovation. You’ll save time and money that can be spent on other innovation promoting activities like internal networking and software to improve interdepartmental communication.
1/15/2019 How Big Companies Should Scout New Technologies
https://hbr.org/2019/01/how-big-companies-should-scout-new-technologies 4/6
7/18/2017 A Study Shows How to Find New Ideas Inside and Outside the Company
https://hbr.org/2017/07/a-study-shows-how-to-find-new-ideas-inside-and-outside-the-company
