Innovation strategies are central to corporate growth and national economic progress plans. Over the last decade, the average global innovation expenses have grown faster than the GDP. In 2018, the global research and development (R&D) spending grew by 5.2%, outdoing the global GDP growth at the time. The international patent application filings via WIPO’s Patent Cooperation Treaty (PCT) have grown more than 60% over the last 10 years, underpinning the importance of innovation research. There is a strong determination amongst global firms and government bodies to foster innovation across sectors and create R&D awareness.
Companies are already looking out 5 to 10 years ahead, to identify technology areas that will match or complement their existing portfolio. At present, decision-makers and strategy heads are refocusing on R&D analysis to track down key research areas at nascent stages of development. Innovation managers are embracing open innovation, inviting a network of universities, R&D facilities, laboratories, and startups to accelerate the inventive practices in their organizations with the help of external expertise. This activity is helping them stay abreast with emerging technology trends in line with their growth strategies.
Business goals that require R&D insight most
However, corporates, VCs, and investors are facing challenges in identifying and evaluating relevant research programs, groups, incubators, accelerators, and intellectual property and are thus seeking external assistance to understand the real impact of research topics and outcomes. Their main concerns revolve around innovation worthiness, associated risks, timelines, market dynamics, expected benefits, and how they benchmark against competing technologies.
There is a need for a 360-degree approach to capture the R&D activities and ensure comprehensive analysis. Global companies across sectors are relying on R&D analysis, tracking and evaluation, and analysis to create strategic innovation roadmaps. Decision-makers are capturing R&D insights based on an exhaustive set of parameters, including technical benchmarks, stealth-mode activities, key research investigators, commercialization stage, existing industry collaborations, research project funding, demographic trends, potential market acceptance, potential investment scenarios, potential collaboration opportunities, challenges, patent trends, cost analysis, end applications, outcomes, linkages between research programs/entities, and other key indicators.
How we help
Netscribes engages in bespoke research services to address problem statements of our clients while working with innovation/strategy heads, C-level executives, engineering leads, government entities, investors, and other decision-makers. Our team of subject matter experts in the field of semiconductors, automotive, chemicals, telecommunications, and electronics are experienced in tracking and evaluating fast-evolving R&D trends. Our vast network, comprising research institutes, universities, inventors, and scholars has enabled us to develop a holistic approach for innovation monitoring over the years.
A case in point
One of our global chemical clients was strategizing on entering the 5G antenna market. The primary aim was to leverage their existing material portfolio and outline new materials for future investigations that could cater to new 5G applications. Mechanical and electrical phased array antennas were the key areas of interest. The client’s key concerns were data gaps and delays in R&D reporting. Inaccurate and incomplete datasets were slowing the client’s internal processes, thus placing their competitive advantage at risk.
To understand the activities by entities like universities, start-ups, innovation labs, research institutes, and regulators Netscribes’ holistic R&D analysis framework was adopted. An in-depth assessment of the materials used in electrical and mechanical phased array antennas and their mapping with the end applications was conducted.
Next, recommendations were provided related to antennas in communication with low earth orbit satellites and for connected car applications. We also provided the firm with a holistic view of the research areas initiated by the key competitors. The insights provided enabled the client to zero in on liquid crystal and metamaterials for further in-depth research and adopt collaborative routes for better decision-making and next steps.
Netscribes R&D monitoring and analysis enables organizations to make data-driven innovation decisions in time and cost-effectively. Through a combination of patent analysis, technology assessments, and qualitative and quantitative research, we support you through every step of the innovation process – from determining the novelty of your inventions to commercialization. To know more, contact us.