Technology Scouting for Medtech in the Modern Age

It’s no secret that innovation is essential to a company’s ability to cultivate a robust product pipeline and consistently remain competitive in a global marketplace. Accessing this innovation through external technology acquisition is increasingly becoming viable for any organization. Companies now have ready access to technologies developed around the globe, which offers significant opportunities to leverage the trials and tribulations of others to benefit their own product pipeline. However, even with the wealth of this technology data, it is critical to separate the reality from the hype. Sifting through endless technologies to find the best fit can be time consuming and inefficient unless firms have a process in place to identify and vet technologies. Having a robust technology scouting and assessment process can mean the difference between success and failure when it comes to importing technology. Using a balanced scorecard approach to technology assessment has been proven to increase the chances in identifying and leveraging external technology. Don't miss the Advanced Design and Manufacturing Conference and Expo in Cleveland, March 7-8, 2018.   A technology scouting and assessment process should include these elements: Understanding the fundamental need the technology must address is a critical first step as it sets the foundation for identifying and vetting potential technologies. People often miss the fundamental need because they begin to offer solutions too ...
Source: MDDI - Category: Medical Devices Authors: Tags: Medical Device Business Source Type: news