With over 140,000 novel compounds analyzed before selecting one for commercialization, Dow AgroSciences depends on technology scouting to continually fill its global R&D pipeline with new opportunities. Even with 8,000 employees, this is a task too large to be done solely through internal research.
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Why horizon scanning is valuable
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For many organizations, success is largely based on the speed with which they can bring products to market. Especially in markets where competitors can easily gain a foothold, first mover advantage helps solidify leadership and establish an effective competitive advantage.
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With the dilution of the R&D monopoly most Fortune 50 company could wield through mass corporate research parks such as Xerox’s PARC, organizations have begun to compensate through external technological innovation. Given the reality that no single organization has more than 1% of the global R&D...
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New tech scouting teams need to establish a clear scouting process early on to avoid mistakes down the road. Most scouting units are less than three years old, and as such, many are still experiencing growing pains and uncertainty. If your company has recently formed a scouting unit, there are some...
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Open innovation has been positioned as a solution to myopic internal R&D efforts, with crowdsourcing being the primary means with which large organizations are willing to outsource their internal R&D. While crowdsourcing is effective in solving small problems such as coloring and naming of...
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With a growing emphasis on developing clusters of innovation through public/private partnerships, universities have increased investment in technology centers and research parks. However, given the constraints placed on research parks in terms of financial and personnel resources, institutions need...
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How does a research office demonstrate economic, technological, and social impact? Given the high expectations placed on research parks in terms of innovative capability and economic impact, being able to automate data management and reporting is crucial to identifying whether current efforts and...
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For research park offices, technology accelerators, and economic development corporations, the quality of tenants and applicants is much more important than quantity. Although offices may benefit from an increased number of applicants, these offices depend on high quality applications being...
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