The company reviews its existing technologies and decides if they are capable of delivering the products it needs to satisfy the markets it is aiming at. It looks at its capabilities in terms of R&D and decides if it should do R&D or source its technology requirements externally.
 
It has been found that technologies have a limited life cycle and follow S-curves which show that, as technologies are introduced, a large investment in R&D is needed before some performance is achieved. Similarly as technologies mature, further R&D investment gives diminishing returns. At this point a new technology is needed and companies often turn to outside sources to find these technologies.

Similarly your company may have a specific technology or process capability that would make it particularly interesting to a licensor.  Identifying this specialisation makes it more likely to be successful in the search phase.

How Enterprise Ireland can help

Technology acquisition is more likely to be successful if the company's technology capability is compatible with the technology or product being sought.  You may need guidance in assessing your current capability and strategy for introducing new technology.
On the TechSearch website you will find 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 access the TechSearch team of specialists for advice and assistance in finding new technologies and licenses.