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Optimize technology scouting and investing with this platform

| By Mary Page Bailey and Gerald Ondrey

This company has significantly revamped its Scout software (photo) for open-innovation and technology scouting with new features, including a redesigned visual user experience that helps identify and assess early-stage technologies for innovation investment. Until now, most organizations have defined their future-leaning innovation priorities based on technology readiness levels (TRLs), an approach first developed in the 1970s. But such methods require a pre-existing sense of where to look, which, for early-stage technologies, can be notoriously difficult to discern. The new analytics tools in Scout fill this gap by helping companies discover strategic innovation opportunities proactively. The new Scout analytics suite is an integrated toolkit that leverages the latest in machine learning technology, along with an easy-to-use, drag-and-drop visual interface. It allows users to identify technologies poised for disruptive growth and assess research programs primed for breakthrough results. Scout also now provides in-depth analytics tools to help innovation teams assess and prepare for key technology trends looming on the horizon. — Wellspring Worldwide, Chicago, Ill.