The company considers where it should aim in terms of products and markets and starts to plan how to get there. This can involve looking for new opportunities through identifying changing customer needs, new regulations affecting existing products and new possibilities made available by technical breakthroughs.

By carrying out an analysis of its strengths and weaknesses it becomes clear that some areas of the company's operations require attention. Perhaps the company is in a declining market sector or has a gap in its product range.  Maybe it works mainly as a subcontractor and needs to have products of its own.

Such analysis also points to a company's strengths and suggests that it can use these advantages to grow through the acquisition of new technology in areas where it can exploit new opportunities.

How Enterprise Ireland can help

By contacting its Development Advisor a company can get guidance in the planning and development of its business.

On the TechSearch website you will further information  and case studies, as well as an on-line application that will guide you through the points to be considered when engaging in technology acquisition.

From there you can contact the TechSearch team of specialists for advice and assistance in finding new technologies and licences.