InnovaGeek Iphone App As A Quick And Free Tool For Technology Monitoring

Online, July 7, 2011 (Newswire.com) - From numerical boom, all economic sectors have to deal with tremendous quantity of data. This has led to a general need for some economic intelligence tools. In the innovation market place this phenomenon appears more than extremely important because of at least two fundamental observations. First, as everyone knows, the competitiveness in this sector is really high. But there is also a need for succeed in developing a new technology to integrate other innovations.
Basically the more recent technologies you can integrate in your new product, the more your final product will be innovative and, probably, the more added value you will get thus helping you to introduce new barriers with your competitors.
Technology integration can then be done in many ways. Globally either the technology to integrate can be acquired (company acquisition, intellectual property transfer, license agreement...) or, because expertise in the targeted technology may be needed for the next steps of integration, some partnerships can be developed (Joint venture, partnership though national or international funding programs...).
The prerequisite of all these actions is to identify the target technology. This can be a real bottleneck since the innovation of interest can be either geographically far away, hidden in some university among thousands of inventions or sometimes even used in a different field or market...
Because this process cannot settle only on serendipity various solutions, tools and offers are proposed in order to quickly identify pertinent technologies. Open Innovation concept and its actors known as innovation intermediaries is one of these solutions. Because this concept is relatively new, processes inside open innovation are not yet well defined and it will take time to make it efficient. Using economic intelligence advisors or setting up a dedicated department into your company can become extremely expensive for smaller companies that yet do have the same problematic.
Considering that data monitoring as crucial, InnovaGeek, a company that offers to tease innovation and technology for all (submissions are free) and to all, have integrated into its iPhone Application a small mobile tool that allows registered users to bookmark, share and to be push alerted once technologies that match predefined criteria are posted into their directory. If not perfect this tool can be really efficient for quick checking available innovations. Since this functionality is provided for free, comparatively to some other tools, it is quite a competitive service.

InnovaGeek belongs to the open innovation key players who rely on crowdsourcing to get innovation descriptions from innovators or group of innovators. Among current innovation project owners, some are from academic (CapEnergies cluster, Toulouse University, Entreprise Europe Network consortium Sud-Ouest...) and other from private sector (Yet2.com, Hemarina, SmartGrains, Medincell...). Noteworthy Innovation owners are spread internationally so that this technology showcase must become relevant for technology monitoring.
Technology monitoring and management is a promising and growing market and may present many opportunities for new emerging product. A complete description of current open innovation processes has just been published by the University of Cambridge ("Getting help with open innovation" and can be downloaded on the IfM site http://www.ifm.eng.cam.ac.uk/ctm).