14. Technology Scouting

This chapter is primarily looking at the flow of technological information from the outside of an organization into the organization in order to enhance its knowledge and capabilities. We first analyze the historical and present sources that produce new and improved technologies. We then deep-dive into the role of individual inventors, universities, industry, startups, and government labs. Special attention has recently been paid to so-called technology clusters and ecosystems where innovation in specific domains (e.g., life sciences, software, aerospace, and automotive) is concentrated. Next, we discuss specifically what is technology scouting and how to set up and run an effective technology scouting organization and its associated processes. We discuss the emergence of technology-focused venture capital and the process of due diligence and conclude on a more controversial but very real topic: competitive intelligence and industrial espionage. Technology scouting is an important feeder for technology roadmapping in order to avoid blind spots, and help create a realistic view of what is the current state of the art and what technologies are being worked on by others.