Nerac Global Benchmarking Study | "Scouting for Innovation in 2009"

In many industries, innovation is generally recognized as a critical ingredient for corporate success.

Until relatively recent times, most companies used internal research and development as their only method of innovation. However, companies are now proactively considering all sources of innovation, both internal and external, to remain competitive.  Many companies that are aggressively looking outside their walls for new technology are using Innovation Scouts, specialists tasked to identify new opportunities for partnership, co-development, licensing or acquisition. Innovation Scouting is a key element of Open Innovation, but the practice of scouting for innovative products and services has been around much longer and has an established place in traditional business practices as well.

Nerac's Global Benchmark Survey was designed to benchmark current practices of innovation (or technology) scouts. We sought to better understand several elements of innovation scouting programs
such as size, scope, sponsorship, skill sets, and objectives. We also hoped to identify any discernable trends or common practices in scouting for external innovations, as existing data on this is limited.