Publication typeArticle in academic journal
JournalTechnological forecasting and social change
Publication Begin page335
Publication End page343
MetadataShow full item record
AbstractThe 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.
KeywordTechnology Intelligence, Open Innovation, Life Sciences, Real Options Reasoning, Technology Radar
Knowledge Domain/IndustryOperations & Supply Chain Management