Chris H. Stoessel, StoesselConsulting / SputterTek LLC, Bodega Bay, CA
Successful commercialization of advances in coating and surface science increasingly depends on industry’s ability to not only execute internal R&D efforts but to also effectively leverage innovation that is obtained from external partners. External innovation helps diversify the “Innovation Pipeline” and offers the opportunity to mitigate risks, accelerate time-to-market, nimbly react to shifting trends, diversify creative perspectives, and to take advantage of existing technology / market ecosystems. Synergistic effects between external scale-up needs and complementary internal manufacturing capabilities or product line integration opportunities are particularly appealing. However, it can also pose challenges for corporate intellectual property strategies, stir “not invented here” resentments with internal innovation resources, requires efficient opportunity scouting, prudent due-diligence assessments, and a strategic corporate funding and investment approach. A wholistic commitment throughout the enterprise is required to effectively integrate external innovation into corporate business structures.
In this talk, we will review various external innovation pathways, characterize their strength and weaknesses, and provide guidance on how to avoid common pitfalls to leverage external innovation opportunities for successful business growth in innovation-driven markets such as coatings and surface engineering.