Look for New Opportunities in Existing Technologies

Overview

Several approaches to developing new technologies are available to companies, but few studies explore how the development process can reveal hidden opportunities in existing technologies. This paper investigates the technology development process to consider how they can discover opportunities that generate higher value for users. Implementing a five-step framework in the discovery process can help identify new opportunities and reveal new application fields for existing technologies.

Keywords:

• Technology development
• Technology selection
• Open innovation

Additional information

Notes on contributors

Stefano Magistretti

Stefano Magistretti is a postdoctoral researcher in design and innovation management at the School of Management, Politecnico di Milano, and a senior researcher in the LEADIN’Lab, the Laboratory of LEAdership, Design, and INnovation. Within the School of Management, he is also a member of the research development platform for the Observatory “Design Thinking for Business.” He has published conference articles and a chapter in an edited book, as well as articles in journals such as Industry & Innovation, Business Horizons, Research-Technology Management, and Technology Analysis and Strategic Management Journal. [email protected]

Claudio Dell’Era

Claudio Dell’Era is an associate professor in design strategy at the School of Management, Politecnico di Milano, and cofounder of LEADIN’Lab, the Laboratory of LEAdership, Design and INnovation. He is also director of the Observatory “Design Thinking for Business” in the School of Management. His research focuses on design thinking and design strategy. He has published conference papers and book chapters, as well as articles in journals such as Entrepreneurship Theory and Practice, Journal of Product Innovation Management, Long Range Planning, and Industry & Innovation, among others. [email protected]

Roberto Verganti

Roberto Verganti is Professor of Leadership and Innovation at the Stockholm School of Economics. He is also the cofounder of LEADIN’Lab, the laboratory on LEAdership, Design and Innovation at Politecnico di Milano. He has been a visiting scholar at Harvard Business School, Copenhagen Business School, and California Polytechnic University. He serves on the advisory board of the European Commission’s European Innovation Council. He is the author of Overcrowded: Designing Meaningful Products in a World Awash with Ideas (MIT Press 2017) and Design-Driven Innovation: Changing the Rules of Competition by Radically Innovating What Things Mean (Harvard Business Press 2009). He has had more than 150 articles published in journals such as Management Science and Research Policy and is a regular contributor to the Harvard Business Review. [email protected]