Having considered geographical areas and identified sources and organisations to contact, the company initiates a search process which may be done on its behalf by TechSearch.  The company can also carry out its own search as well. This has the advantage that the company gains more experience in identifying suitable projects and technologies and is better able to refine its search criteria as the search progresses.

The best sources are often companies in distant markets who have already developed technology but have not introduced it to the EU. For example, only a small proportion of the smaller companies in the US export to Europe. There are also many EU companies who can license other EU companies to use their technology. This happens in sectors where local raw materials are used such as food and construction but it can also apply to other sectors such as engineering and pharmaceuticals. Software is widely licensed, often on a non-exclusive basis.

The search process should result in a large number of opportunities being identified. These are then shortlisted to filter out the least attractive projects. The most promising projects which meet the company's needs are then selected for detailed evaluation.

How Enterprise Ireland can help

The TechSearch service maintains a worldwide network of licence contacts.  These include the Innovation Relay network in Europe and Enterprise Ireland's overseas offices in 30 countries.  

Using your Technology Licensing Summary document, Enterprise Ireland can scan Irish and international sources to locate appropriate licensing opportunities.

Click here to check out the technologies available from the Innovation Relay Centre Network .