Technology Needs Search: These engagements are solely focused on identifying proprietary, performance technologies and ingredients to address specific, "approved", technology wants/needs. The client evaluates the technical candidates that are surfaced based upon on merit (including performance, robustness of technical bundle, strength of IP, and material costs) relative to candidates already known to them.
Technology/Products Needs Search: In addition to satisfying specific technology needs requirements (as described above), the client may also be willing to consider fully formulated or customizable products (i.e. potential "private brand"). Some companies currently heavily rely upon this type of approach to create new products. It typically involves a partnership with a contract manufacturer/filler who has internal product development expertise. The client guides their product development efforts and ensures that the product meets its performance, safety and regulatory standards.
An important and complicating variation on the scenario described above is when the party holding the rights to the technology sought by the client is not expecting the contact, and has not contemplated acting as a licensor and/or product supplier.
New Opportunity Range Exploratory: In this type of engagement, the client provides a fairly broad description of areas of interest, as well as desirable product performance characteristics. Deliverables can range from product inspirations to spark creative product brainstorming, to identification of specific products and technical capabilities, to the cultivation of (co-development) partnerships with providers who have attractive technology assets and/or other capabilities. In most instances, specific needs are not prescribed.
While this type of exploratory can be highly satisfying from a creative standpoint, it is highly suited to clients who have the latitude to pursue less rigidly defined opportunities. It can also be challenging, because of the discipline required to sift, sort, and prioritize the opportunities that are identified...and to ensure that the fledgling relationships don't stagnate as one or both sides consider the shared opportunity and seek to progress it through their respective organizations.
Do any of the above sound familar to you? Is your company engaged in productive external innovations collaborations other than the types that I've described above? Please let us know, and we'll share with our readers.
