Competitive Intelligence is an information-gathering and analysis process that helps a company develop its strategy and identify competitive gaps.<\/p>\n\n\n\n
Application scouting is a part of competitive intelligence which serves as a tool for making competitive strategies for companies. One may also consider it as an element of open innovation.<\/p>\n\n\n\n
Companies wanting to engage in open innovations require networking with other companies, small and medium size enterprises, R&D facilities, startup firms, individual inventors, public or private universities, research institutes and the like. <\/p>\n\n\n\n
Moreover, the application scouting process enables clients to take informed strategic decisions on extending existing technologies to new applications<\/a><\/strong>. This allows channelizing of information related to new application areas for their existing technology portfolio. Performing application scouting also creates support for clients in collaborating with others or buying out licenses.<\/p>\n\n\n\n Table of Contents<\/p>\n