Global innovation scouting
Innovation as a growth driver
Innovative companies have a better chance of surviving and growing in the market in the future. Staying on the market means keeping track of technological, economic and political changes and recognizing new requirements. Innovation scouting offers you a regular overview of innovations in your own as well as in neighboring markets. A hybrid approach of automated solutions and manual monitoring enables a 360° view as a comprehensive solution. SVP develops a customer-specific solution, as each company has its own target markets and, therefore, other search terms and sources are relevant.
Challenges
Market intelligence tools offer solutions that enable automated monitoring. However, sources such as scientific literature, fee-based databases for patents or start-ups, for example, are included only to a limited extent. In automated monitoring, the quality of the results and its analysis capabilities are not yet optimal either.
With the use of MI tools, SVP automates a large portion of innovation scouting. SVP closes the gaps with additional manual data analyses. As a result, you receive a 360° view of all relevant innovations, tailored to your needs.
Your 360° view
AUTOMATED MEDIA MONITORING
Automated identification of innovations from public sources and social media. Deliverable: Newsletter / dashboard with news on innovations and new products.
SIGNAL SPOTTER
Word cloud created with AI technology. Deliverable: The most frequently discussed terms of the previous month are displayed. > Trend
PATENT ANALYSIS
Patent analysis carried out by market intelligence experts. Deliverable: An overview of new patents in your desired field of innovation.
IDENTIFICATION OF START-UPS
Research in start-up databases. Deliverable: New interesting start-ups are listed with a brief description.
SCIENTIFIC ARTICLES
Research by MI experts in databases covering scientific publications. Deliverable: Articles from the specialist literature that discuss / publish relevant innovations.
SUPPLEMENT: NICHE SOURCES
Research in press databases that cannot be integrated via an automated search. Deliverable: Additional information on innovations from databases with paywalls.
Open Innovation by SVP
- Automated media monitoring
- Signal spotter
- Patent analysis
- Identification of start-ups
- Scientific articles
- Addition of niche sources
Nice to know
Not every wheel has to be reinvented and not every new invention has to be built from scratch. Being aware of innovations that affect your market is just as important for risk protection as it is for growth.
- Innovation scouting enables companies to recognize early on where innovations with disruptive potential are emerging.
- Innovation scouting allows management to keep an eye on new competitors, interesting innovations as well as start-ups, and gives them the opportunity to act instead of just to react.
- Business development and product management benefit from new ideas which offer new approaches for their own product development.
Innovation scouting refers to the observation of changes in the market. These can be new technologies, new materials, new business models or even new products. Incidentally, innovation scouting also reveals new market players or competitors.
Scouting, therefore, means identifying innovations, not developing or inventing them. The approach to or inspiration for new and further development is put on a broader basis.
What are the advantages of innovation scouting with SVP?
Innovation has always been a necessary driver for companies and the economy as a whole but innovation cycles have become much shorter today. Companies should keep an eye on innovative developments to avoid losing the basis of their business. The same applies to SVP.
We need to keep abreast of developments in artificial intelligence, otherwise, the work our market intelligence experts do will be done by AI technology in the future. Alternative solutions for ad hoc research and more complex market topics are not yet on the horizon, but that could change quickly.
What innovation do SVP members find exciting?
„As an ambitious triathlete, I am always interested in ways to monitor my biometric data. Until now, the classic tool for this has been sports watches. At my last training camp, I came across an exciting innovation: a smart ring can be used to measure more than 20 biometric values such as heart rate, body temperature, blood oxygen etc. in a relatively inexpensive, fashionable and convenient way.“
„My general interest in digital innovations that make everyday life easier extends across a wide range of applications; from contactless payment, watches and cell phones to voice-controlled assistants and market intelligence platforms in the business environment.“
„I am happy that innovations are also driving mobility, especially autonomous driving. When I imagine that all the people of my generation will be driving cars on the road in 20 years’ time, it makes me anxious. Hopefully, advancements in autonomous cars will allow mass adoption by then, or, thanks to innovations, the cockpit will have been upgraded to such an extent that it is able to forgive our mistakes.“
