Tech Scouting

What is Tech Scouting?

Tech scouting is the process of identifying and evaluating new technologies, products, and services that could potentially benefit a company or organization. It involves researching emerging trends and innovations in a particular industry or field, and assessing the potential impact and value of those technologies for the organization. The goal of tech scouting is to identify new opportunities for growth, efficiency, and competitive advantage. This process can be done internally by a company's R&D department, or externally by consulting firms or technology scouting companies.

Sources:

1. Department of Defense (DOD)

2. Department of Homeland Security (DHS)

3. National Institute of Science and Technology (NIST)

4. Defense Acquisition University (DAU)

Why Do Organizations do Tech Scouting?

Organizations engage in Tech Scouting for a variety of reasons, but the primary goal is to identify and adopt emerging technologies that can help them gain a competitive advantage and drive innovation. Here are some of the key reasons why organizations do Tech Scouting:

1. Competitive Advantage: By identifying and adopting emerging technologies before competitors, organizations can gain a competitive edge and differentiate themselves in the market. This can lead to increased market share, improved profitability, and greater customer loyalty.

2. Innovation: Tech Scouting is an essential component of innovation strategy, as it allows organizations to stay up-to-date on the latest trends and technologies and incorporate them into their product development and service offerings.

3. Partnership and Collaboration: Tech Scouting can also help organizations identify potential partners or acquisition targets. By monitoring the technology landscape, organizations can identify startups or other companies that are developing promising technologies or solutions, and explore potential partnerships or acquisition opportunities.

4. Investing: Tech Scouting can inform an organization's investment strategy by identifying emerging technologies and startups that have the potential to drive innovation and generate a high return on investment. By staying up-to-date on the latest trends and technologies, organizations can make informed investment decisions and allocate resources more effectively.

5. Mergers and Acquisitions: Tech Scouting can also inform an organization's merger and acquisition (M&A) strategy by identifying potential acquisition targets. By monitoring the technology landscape, organizations can identify startups or other companies that are developing promising technologies or solutions, and explore potential M&A opportunities. This can enable organizations to quickly gain access to new technologies or markets and accelerate their growth.

6. Efficiency: Emerging technologies can often streamline business processes and improve efficiency, leading to cost savings and increased productivity. Quickly leveraging new technologies can provide an immediate and profound ROI to companies who find, test, and implement new technologies before their competitors.

7. Risk Mitigation: By staying on top of emerging technologies, organizations can identify potential risks and vulnerabilities and take proactive steps to address them.

What is the Tech Scouting Process & Methodology?

The Tech Scouting process is a strategic approach that allows organizations to identify, evaluate, and adopt emerging technologies that can help them gain a competitive advantage. The methodology involves a series of steps that enable businesses to identify and track innovative technologies, evaluate their potential benefits, and develop a plan for adopting them.

The first step in the Tech Scouting process is to define the objectives and goals of the scouting effort. This involves identifying the areas of the business that could benefit from new technologies and establishing criteria for evaluating potential solutions. Once the objectives are established, the scouting team will begin searching for innovative technologies that meet these criteria.

The next step is to evaluate and prioritize the technologies that have been identified. This involves conducting a thorough analysis of each technology's capabilities, strengths, weaknesses, and potential impact on the business. The scouting team will also need to consider the technology's readiness for adoption and the risks associated with implementing it.

Once the technologies have been evaluated, the scouting team will develop a plan for adoption. This plan will include a detailed roadmap that outlines the steps needed to integrate the technology into the business, as well as a timeline for implementation and deployment. The team will also need to consider factors such as training and support, as well as potential changes to the business processes that may be necessary to fully leverage the benefits of the technology.

Overall, the Tech Scouting process and methodology is an essential component of any organization's innovation strategy. By identifying and adopting emerging technologies, businesses can gain a competitive advantage and stay ahead of the curve in today's rapidly evolving tech landscape.

How is Tech Scouting Different Than Industry Landscaping?

While both Tech Scouting and Industry Landscaping involve researching and analyzing trends and innovations within an industry, they are distinct approaches with different goals and methods.

Industry Landscaping is a broad, high-level view of an industry's overall landscape, including its major players, trends, challenges, and opportunities. It is primarily focused on providing a comprehensive understanding of the industry and its competitive environment, rather than identifying specific technologies or solutions.

Tech Scouting, on the other hand, is a more focused and targeted approach that seeks to identify and evaluate emerging technologies that can help an organization gain a competitive advantage. It involves a more detailed analysis of specific technologies, their capabilities, and potential impact on the business.

While Industry Landscaping can provide valuable context and insights for Tech Scouting efforts, the two approaches are not interchangeable. Industry Landscaping is a broader, more comprehensive approach that can inform a range of business decisions, while Tech Scouting is a more targeted approach that focuses specifically on identifying and adopting emerging technologies that can drive innovation and growth.

In summary, Industry Landscaping is a valuable tool for gaining a comprehensive understanding of an industry's competitive environment, while Tech Scouting is a strategic approach focused on identifying and evaluating specific emerging technologies that can provide a competitive advantage.

What’s the difference between trend analysis, emerging tech, and corporate venturing?

Trend Analysis, Emerging Technology, and Corporate Venturing are related concepts that are all essential components of innovation strategy, but they differ in their focus and objectives.

• Trend Analysis is the process of identifying and analyzing patterns and shifts in consumer behavior, market dynamics, and industry trends to inform strategic decision-making. It involves monitoring and interpreting data to identify emerging trends and insights that can be used to guide innovation efforts, market positioning, and business strategies.

• Emerging Technology refers to new or evolving technologies that have the potential to disrupt existing markets or create new ones. Emerging technologies may be in the early stages of development or already on the market, but they are not yet widely adopted or fully understood. The focus of emerging technology is on identifying promising new technologies that can provide a competitive advantage or open up new opportunities for growth.

• Corporate Venturing is a strategic approach that involves investing in or partnering with startups or other external innovation sources to drive innovation and growth. Corporate Venturing aims to leverage the expertise and resources of established companies to support the development of new ideas and technologies, while also providing startups with access to funding, expertise, and market knowledge.

Does Tech Scouting fit into the Competitive Analysis “Black Hat” phase of Proposal Development and Response?

Tech Scouting can certainly play a role in the Competitive Analysis "Black Hat" phase of Proposal Development and Response. During the Black Hat phase, organizations conduct a detailed analysis of their competitors' strengths, weaknesses, and potential strategies to gain a competitive advantage.

Tech Scouting can provide valuable insights into emerging technologies that competitors may be adopting or considering, as well as potential technology gaps or vulnerabilities that could be exploited. By identifying and evaluating emerging technologies that competitors may be overlooking, organizations can gain a competitive edge and position themselves as industry leaders.

However, it's important to note that Tech Scouting is just one component of a comprehensive competitive analysis strategy. To be effective, organizations must also consider factors such as market trends, customer preferences, and regulatory environments, as well as their own strengths and weaknesses.

In summary, while Tech Scouting can be a valuable tool in the Competitive Analysis "Black Hat" phase of Proposal Development and Response, it is just one component of a broader competitive analysis strategy. By taking a comprehensive and holistic approach to competitive analysis, organizations can gain a more complete understanding of their competitive landscape and make more informed strategic decisions.

Is Tech Scouting Worth It?

Tech Scouting can be a valuable investment for organizations that want to stay competitive and drive innovation.

While there are costs associated with Tech Scouting, such as the time and resources required to search, identify, evaluate, and synthesize emerging technologies, the intelligence and data obtained from this research often outweigh these costs.

Companies who continue further with implementing newfound data can yield healthy returns, turning the tech scouting investment into a zero-cost effort.

Here are some of the reasons why Tech Scouting can be worth the investment:

• Competitive Advantage: By identifying and adopting emerging technologies before competitors, organizations can gain a competitive edge and differentiate themselves in the market. This can lead to increased market share, improved profitability, and greater customer loyalty.

• Innovation: Tech Scouting is an essential component of innovation strategy, as it allows organizations to stay up-to-date on the latest trends and technologies and incorporate them into their product development and service offerings.

• Cost Savings: Emerging technologies can often streamline business processes and improve efficiency, leading to cost savings and increased productivity.

• Risk Mitigation: By staying on top of emerging technologies, organizations can identify potential risks and vulnerabilities and take proactive steps to address them, reducing the likelihood of costly errors or setbacks.

• Partnership and Collaboration: Tech Scouting can facilitate partnerships and collaboration with startups and other external innovation sources, which can provide access to new ideas, talent, and resources.

Of course, the value of Tech Scouting will depend on the specific needs and goals of each organization, as well as the resources available to invest in the process. However, for organizations that are looking to stay competitive and drive innovation, Tech Scouting can be a valuable investment that pays dividends in the long run.

Innovation Never Stops

What Are Some Tech Scouting Tools & Software?

There is a wide variety of tools that assist people and organizations in staying abreast of new developments, company updates, and technology advancements, all of which can be included in the “Tech Scouting Stack”. Below is a list of Tech Scouting Tools and Software that’s created by both Government and Commercial organizations. Using these these tools help tech scouts more quickly find, analyze, compile, and report on their area of focus.

1. Government Tech Scouting & Transfer tools

   1. Department of Defense (DoD) TechLink: The DoD TechLink is a free online platform that allows users to search for and discover technologies that have been developed by DoD researchers. The platform provides detailed information on each technology, including its potential applications, commercialization status, and intellectual property status.

   2. Department of Energy (DOE)’s “Scout” tool: The DOE's Scout tool is a free online platform that allows users to search for and discover emerging technologies that are being developed by the National Laboratories and other DOE-funded research organizations. The tool provides detailed information on each technology, including its potential applications, commercialization status, and intellectual property status. Users can also search for technologies by keyword or technology category, and can create custom technology portfolios to track their areas of interest.

   3. National Institute of Standards and Technology (NIST) Technology Transfer Portal: The NIST Technology Transfer Portal is a free online resource that allows users to search for and discover technologies that have been developed by NIST researchers. The portal provides detailed information on each technology, including its potential applications, commercialization status, and intellectual property status.

   4. NASA Technology Transfer Portal: The NASA Technology Transfer Portal is a free online resource that allows users to search for and discover technologies that have been developed by NASA researchers. The portal provides detailed information on each technology, including its potential applications, commercialization status, and patent status.

   5. Air Force Technology Transfer (AFRL): The Air Force Technology Transfer Program is managed by the Air Force Research Laboratory (AFRL) and is responsible for transferring technologies developed by AFRL researchers to the private sector. The program provides a variety of resources and support for Tech Scouts who are looking to identify and evaluate emerging technologies developed by AFRL researchers.

   6. Army Technology Transfer Program: The Army Technology Transfer Program is managed by the U.S. Army Research, Development and Engineering Command (RDECOM) and is responsible for transferring technologies developed by Army researchers to the private sector. The program provides a variety of resources and support for Tech Scouts who are looking to identify and evaluate emerging technologies developed by Army researchers.

   7. Navy Technology Transfer Program: The Navy Technology Transfer Program is managed by the Office of Naval Research (ONR) and is responsible for transferring technologies developed by Navy researchers to the private sector. The program provides a variety of resources and support for Tech Scouts who are looking to identify and evaluate emerging technologies developed by Navy researchers.

2. Commercial tech scouting tools

   1. State Corporation Commissions: State Corporation Commissions (SCCs) are regulatory bodies that oversee corporations and other business entities in each state. Tech Scouts can use the SCCs' databases to search for information on registered businesses, including the names and addresses of officers and directors, and the company's status (active, inactive, or dissolved). This information can be useful in identifying potential partners or acquisition targets.

   2. Company Aggregators: Company incorporation databases can be a valuable source of information on startups and emerging technology companies. Tech Scouts can use these databases to identify potential partners or acquisition targets, as well as track funding rounds and other key metrics.

   3. Tech News Aggregators: Tech news aggregators can provide a daily dose of curated news and analysis on the latest tech trends and innovations that a company is interested in following so that they are aware of breaking news articles, developments, and accomplishments.

   4. Google Alerts: Google Alerts is a free tool that allows users to monitor the web for specific keywords or phrases. By setting up alerts for relevant industry keywords, Tech Scouts can stay up-to-date on the latest trends and emerging technologies.

   5. Patent Databases: Patent databases, such as the United States Patent and Trademark Office (USPTO) and the European Patent Office (EPO), can be a valuable source of information on emerging technologies and innovation trends.

   6. Innovation Management Software: Innovation management software can help organizations accelerate and manage their Tech Scouting efforts and facilitate collaboration and idea generation across teams and departments. These automated tools can help itemize, capture, and store values for desired attributes for specific companies or technologies.

   7. Social Media Aggregators: Social media platforms, such as Twitter and LinkedIn, can be a valuable source of information on emerging technologies and industry trends. By following relevant thought leaders and industry experts, Tech Scouts can stay up-to-date on the latest developments in their field.

   8. Press Release Monitors: Press release monitoring tools can be a valuable source of information on new product launches, partnerships, and other news related to emerging technologies. Tech Scouts can use these tools to stay up-to-date on the latest developments in their industry and identify potential partners or acquisition targets.

   9. RSS Feeds: RSS feeds can be a useful tool for Tech Scouts looking to aggregate content from multiple sources. By subscribing to RSS feeds from relevant industry blogs and websites, Tech Scouts can stay up-to-date on the latest news and trends in their field.

   10. Large Language Models: Large Language Models, such as GPT-3, can be used to analyze large volumes of data and identify patterns and trends. Tech Scouts can use these tools to analyze social media posts, news articles, and other online content to identify emerging technologies and innovation trends.

   11. Website Traffic Monitoring Tools: Website traffic monitoring tools, such as SimilarWeb and Alexa, can provide valuable insights into website traffic and user behavior. Tech Scouts can use these tools to identify up-and-coming startups and track the growth of emerging technologies.

Tech Scouting Jobs, Description, & Salary

What Are Some Good Tech Scouting Traits?

Here are six good Tech Scouting traits that can help individuals succeed in this field:

1. Curiosity: A strong sense of curiosity is essential for Tech Scouts, as they need to be able to stay up-to-date on the latest trends and innovations in their industry. They should be passionate about learning and exploring new technologies, and have a natural inclination to ask questions and seek out information.

2. Analytical Thinking: Tech Scouting requires a keen ability to analyze data and information, as well as the ability to think critically and draw meaningful insights from that analysis. Tech Scouts should be skilled at interpreting complex data sets and making strategic recommendations based on that analysis.

3. Creativity: Tech Scouting also requires a certain level of creativity, as Scouts need to be able to identify innovative solutions to business challenges and opportunities. They should be able to think outside the box and come up with unique approaches to solving problems.

4. Strong Communication Skills: Tech Scouts need to be able to communicate effectively with a variety of stakeholders, from senior executives to technical teams. They should be able to translate complex technical concepts into clear, concise language that can be easily understood by non-technical stakeholders.

5. Strategic Thinking: Tech Scouts should be able to think strategically and develop long-term plans that align with the organization's overall business objectives. They should be able to identify emerging trends and technologies that can provide a competitive advantage, and develop strategies to capitalize on those opportunities.

6. Flexibility: The world of technology is constantly evolving, and Tech Scouts need to be able to adapt to new technologies and changing market dynamics. They should be comfortable with ambiguity and uncertainty, and be able to pivot quickly when necessary.

Top 5 Ways to Improve your Tech Scouting

1. Develop a Clear Strategy: A well-defined Tech Scouting strategy can help organizations stay focused on their goals and identify the technologies that are most relevant to their business objectives. The strategy should outline the specific technologies and trends that the organization is interested in, as well as the criteria for evaluating potential solutions.

2. Foster a Culture of Innovation: A culture of innovation can help organizations stay agile and responsive to new technologies and market trends. Companies should encourage employees to share new ideas and collaborate across teams and departments to identify emerging technologies that could drive innovation.

3. Leverage External Innovation Sources: External innovation sources, such as startups and incubators, can provide valuable access to new ideas, talent, and resources. Companies should develop partnerships and collaborations with these sources to identify and evaluate emerging technologies.

4. Invest in Tech Scouting Talent: Having a team of skilled Tech Scouts can be a valuable asset for organizations looking to stay competitive in today's rapidly evolving tech landscape. Companies should invest in recruiting and developing top Tech Scouting talent, and provide ongoing training and professional development opportunities.

5. Embrace Emerging Technologies: Finally, companies should be willing to embrace emerging technologies and take calculated risks to stay ahead of the curve. This may involve investing in new technologies, developing new business models, or making strategic acquisitions to gain a competitive advantage.

Does MACH37 do Tech Scouting?

Yes. Being the leading cyber accelerator in the country, MACH37 has unique exposure to a large startup ecosystem, technology trends as well as current and future investment growth opportunities.

What areas does MACH37 look for in Tech Scouting?

Here are some of the areas that we’ve performed tech scouting on:

How is MACH37’s Tech Scouting Different Than Other Companies?

MACH37's area of focus and tech scouting approach sets us apart from the competition in several ways.

1. First, unlike other tech scouting firms that focus on established technologies and companies, we have extensive and unique exposure to early-stage emerging technology companies. MACH37 receives hundreds of applications to our world-class accelerator program every year; providing us unparalleled visibility and involvement with emerging technologies and companies, and the stage of their development and adoption readiness.

2. Second, MACH37 has deep entrepreneurial & startup expertise and experience working directly with early stage companies and investors for over 10 years. We have a deep understanding of the challenges that startups face before widespread adoption and scale; and not only advise startups on best practices to avoid common pitfalls, but can also assess company readiness levels to include Technology Readiness Levels (TRL) and Investment Readiness Levels (IRL).

3. Next, our connections to government agencies, defense contractors, Fortune 100 companies, academic research institutions, and the investor community give us a broad network and access to a wealth of expertise and resources. We leverage these connections to gauge market gaps, desires, priorities, and growth projections to create unique early-stage emerging technology research reports that provide valuable insights into innovation trends for companies and leaders that want to know not just where the current state of the technology landscape, but where the technology is going.

4. Finally, our world-class mentor network of over 400 mentors with C-Suite leadership positions provides our team access to some of the brightest minds and leaders in the industry for thought leadership, assessment and advisement.

We believe that our unique exposure to early-stage companies, expertise of startups, and extensive network and world-class mentorship program set us apart from other Tech Scouting companies in the market.

Our Tech Scout reports help clients stay ahead of the curve by identifying, assessing, and projecting emerging technologies in ways that other tech scouting firms can’t.

Who is on the MACH37 Tech Scouting Team?

MACH37 Tech Scouting Reports

The MACH37 Tech Scouting reports are very comprehensive, allowing readers from the technology-novice to the experts get a thorough understanding of the current technology capabilities and readiness, landscape, size and company profiles, as well as assessment of future use cases and growth.

Based on numerous requests and feedback from clients, our our Tech Scouting reports reflect many commonly requested elements including but not limited to:

1. Industry Analytic Report

2. Technology-specific Executive Summary

3. 25+ Company Profiles per report

4. 50+ data attributes per company profile including:

   • Company problem statement

   • Company unique value proposition/offering

   • Team size and history

   • MACH37 expert-assessed technology readiness levels “TRL”

   • MACH37 expert-assessed investment readiness levels “IRL”

   • And many more

Let’s talk Tech Scouting.

We’d love to talk about emerging technologies, your use case(s), desire, goals, and answer any questions you may have.

Our current Tech Scouting offerings are:

• Facilitate and teach tech scouting best practices from our in-house Tech Scouting SME team

• Design & develop a tech scouting process and innovation pipeline management for your team

• Purchase past tech Scouting reports

• Request new/custom Technology-specific report