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Linking technology intelligence to open innovation
Veugelers, Mark Bury, J. Viaene, Stijn
Veugelers, Mark
Bury, J.
Viaene, Stijn
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Publication Type
Journal article with impact factor
Editor
Supervisor
Publication Year
2010
Journal
Technological forecasting and social change
Book
Publication Volume
77
Publication Issue
2
Publication Begin page
335
Publication End page
343
Publication Number of pages
Collections
Abstract
The explosive growth of the Internet has led to a dramatic increase in data sources for (competitive) technology intelligence. Appropriate implementation and use of IT tools to gather and analyze these data is of key importance for the creation of actionable technology intelligence. A strategy to optimize investments in the identified technologies becomes of paramount importance if an organization wants to match knowledge and ideas originating from outside of the organization with internal core competences. Such a strategy can create competitive advantage by effectively linking technology intelligence to open innovation. We show how VIB, a life sciences research organization, has established technology intelligence processes to identify a multitude of external technologies of interest, which are subsequently “probed” for their potential and fit with VIB using real options reasoning, thereby supporting open innovation. Our methodology may be useful for other organizations which are considering implementing open innovation approaches.
Research Projects
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Keywords
Technology Intelligence, Open Innovation, Life Sciences, Real Options Reasoning, Technology Radar