Using technology scouting tools, the right way, is critical to your innovation development. A significant majority of the companies use one or a combination of dedicated technology scouting tools to find matching solutions. One of the key advantages of using technology scouting tools is they can expedite the process of technology scouting. The utility of  leveraging a technology scouting tool must not be undermined. It must be an important part of your strategic technology scouting. In this article we introduce you to a list of technology scouting tools used by innovation-driven businesses. These popular technology scouting tools that have made it to the list are broadly classified based on the type of solutions they offer.

However, before we jump on to the list of technology scouting tools, let’s help you understand why using technology scouting tools is important. 

  • Helps keeping up with the trends: The continually evolving fast-paced world of technology is dynamic. If you’re into innovation you’ll have to identify technology trends and adopt and adapt to find the solutions for the future. Let's take an example of Nokia. One of the biggest names in mobile phone technology terribly failed because it completely misjudged the potential and the powerful trend of smartphones. Using the right technology scouting solution you can also get an understanding of the market trends.

  • Saves Time: Technology scouting is a tedious process. You simply cannot substitute it. Technology scouting tools can help you save time. Remember, the key here is to use the correct tool and it has to be done the right way. If you end up using the wrong tool it can be counterproductive.

  • Cost Effective: Leveraging technology scouting tools to find matching solutions can be highly cost effective or a waste of money. If you are able to properly use the technology, it can be one the most cost effective way to find new technologies. It depends largely on what kind of technology scouting tool you use and if that tool is designed to help with your exact requirements. Often technology scouting tools are highly expensive and given the fact that typically will have to use a combination of them, it means paying for several different tools. However, if you select these tools with precision and based on their efficiency, you can do justice to your technology scouting budget.

  • Solution Of All Kinds: One of the biggest advantages of using technology scouting tools is you get multiple different options. There are different kinds of technology scouting tools, so you can always choose one which best fits the “type” of requirements you have.

Here’s a list of all popular technology scouting tools used by businesses globally.

Notice how each of them is broadly classified into different categories like Technology Engine, Innovation Database, Innovation Services, Innovation Management, Data Analytics, Patent Database, Startup Database and  Financial Database. These classifications are important. Often businesses have to rely on multiple different technology scouting tools. 

However, the Technology Search Engine (TSE) is an outlier. It is a powerful tool to find matching solutions from across the technical spectrum. It serves as a go-to, one-stop-shop for finding the latest and the potent technology to help you drive innovation. 

Get the Mastering Technology Scouting Guide

Get the Mastering Technology Scouting Guide

Innovation runs fast. Every year thousands of new solutions come to light. Nevertheless, it is acceptable to spend months in finding a unique technology solution matching a company's needs and even years in achieving the adoption of the technology. But with the large pool of technologies available on the market, why does it need such an enormous amount of time to find matching solutions? Download the Mastering Technology Scouting Guide - and we will show you how to boost your innovation process.