Wellspring, a provider of innovation software for corporations, universities and government agencies, announces an extensive refresh of its Scout software for open innovation and technology scouting. The new software features a redesigned visual user experience, enabling a purpose-built analytics suite that helps identify and assess early-stage technology spaces for innovation investment, according to the company.
Until now, most organizations have defined their future-leaning innovation priorities based on technology readiness levels, an approach first developed by NASA in the 1970s and widely adopted by R&D departments worldwide. But such methods require a pre-existing sense of where to look – which, for early-stage technologies, is notoriously difficult to discern, according to Wellspring.
Wellspring says the new analytics tools in Wellspring Scout fill this gap by helping companies discover strategic innovation opportunities proactively. Leveraging Wellspring Scout’s reported database of 400M+ innovation records, the new analytics suite is an integrated toolkit that features the latest in machine learning technology, according to the company, along with an easy-to-use, drag-and-drop visual interface. It allows clients to:
· Identify next-generation technologies poised for disruptive growth
· Analyze where top competitors are placing their innovation bets
· Assess research programs primed for breakthrough results
· Find emerging organizations at the vanguard of innovation
“To win the innovation game, it’s no longer sufficient to partner with the same companies and institutions as before,” says Robert Lowe, Wellspring’s CEO. “The new Scout analytics suite enables our clients to dig deeper, systematically scanning the environment for promising areas of investment well beyond just the usual suspects.”
For more information, visit: www.wellspring.com