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Technology scouting

Here we share our views on when technology scouting is necessary and provide a simple framework for you to follow.


of companies report focusing on acquisitions as means of capability development.

Sectors for innovation opportunities

Energy transition ● Future mobility ● Industry 4.0 ● Sustainable manufacturing ● Smart quality control and monitoring ● Sustainable food ● Sharing economy ● and more...

What is technology scouting?

Technology scouting (or innovation scouting) is part of the acquisition process of missing capabilities when a company wants to develop a minimum viability product (MVP). It is often a logical step after innovation strategy has been set, as time to launch is drastically reduced if missing capabilities do not have to be developed in-house.

Depending on the desired TRL of the technology, scouting can focus on research groups, patents, early-stage start-ups, and established vendors. The format of capability acquisition can be purchasing of of-the-shelf products, licensing, and full acquisition of the target entity. Irrespective of the format, the important part of the process is technology due diligence, as exaggeration of claims and overpromising by the party that is to be acquired is widespread.

Technology scouting is necessary when acquiring missing capabilities as part of product innovation. This includes market and technology due diligence of acquisition targets.

Of corporations have engaged in some form of CVCs.


Venture-backed startups are acquired on average per year globally


Of acquisition targets fail to bring a return on investment

Holistic technology scouting framework

This step is crucial, as identifying the right innovation partners has a direct influence on the quality of the final product and speed of development.

There is no one framework that fits all, and every company has to work out what works in their own context. At CamIn, we work with clients to help them with technology scouting through our Expert Consulting Model. Here are the general steps you should follow:

Identify missing capabilities Identify what capabilities are missing for you to execute your innovation strategy and develop an MVP. This involves internal gap analysis, typically using third party firms that can act objectively.
Create a long-list of targets By working with subject experts, identifying relevant publications, patents, pilots, and press releases to create a long-list of potential targets that meet your basic criteria.
Vendor benchmarking and selection Benchmark the potential acquisition targets to determine the most suitable ones based on your business criteria to create a short-list.
Technology due diligence Technology due diligence makes sure that you distinguish between the vendors’ claims and reality. To conduct it effectively, interview the vendors and experts with a deep knowledge of the underlying technologies to debunk any unrealistic claims. This is a challenging step, but will save you time and improve your ROI.
Develop an MVP Acquire the necessary capabilities from the selected partners and develop an MVP for a quick launch and validation.