Technology scouting is a systematic approach by large companies and funds whereby they appoint external consultants to gather information on new technology ventures in the field of science and technology and through which they facilitate or execute technology sourcing.
Procter & Gamble's former CEO Alan G. Lafley is often quoted as saying "half the company ideas must come from the outside." Innovation is extremely crucial in serving long term growth objectives, which has only magnified due to the rapid change in emerging technology markets. From venture capital to government incentives, grants and technology funding, new technologies are emerging continuously across industries.
Active Technology Scouting enables companies to remain on the forefront of innovation which acts as a support function to their organic growth objectives. Rather than relying on ad hoc and sometimes haphazard approaches to technology sourcing, many companies are adopting formal Technology Scouting programs to provide a structured, focused approach to identifying and acquiring new technology.
Companies must scout, identify and acquire disruptive technologies at an early stage to exploit full market potential and avoid future acquisitions at higher valuations. Prototypes are valued lesser than production-ready inventions; which may derive higher ROIs when fit into the company's production roadmap. Moreover, the integration process post M&A is one of the most common reasons for failed acquisitions. Early acquisitions provide most flexibility in the integration process.
Companies can solve technical problems - arising out of even the smallest changes in the competitive landscape - quickly, and gain novel skills without increasing overheads.
To keep pace with global innovation, companies should complement in-house Research & Development with external innovation, typically based on a 'build vs buy' analysis. A build vs buy analysis not only helps save costs and resources, but also to allocate time to projects more efficiently and enable a seamless go-to-market.
Technology Scouting enables companies to enter new industries through acquisition of appropriate technologies and teams(Acqui-hire). Major technology ecosystems around the world not only have access to innovative technologies but also a strong technical workforce. While entering new industries or diversifying, it is imperative to have access to technically strong teams able to seamlessly integrate within the organization, post-acquisition.
Companies can accelerate their product development cycle by improving process efficiency, reducing risk and even opening access to technology outside the company's realm of expertise.
Through Technology Scouting, companies have access to a continuous source of deal flow. With or without the actual acquisition of technologies, the process ensures the company is in the forefront of innovation and product development by being up to date with new inventions, market acceptance and/or new business models.
Understand client's growth
programs and technology
Activate Scaale's network
venture capital funds, angel
netwroks and direct
Identify analyze and
facilitate discussions with
technology ventures that
the client is interested to