Okay, so we have the need for Open Innovation on steroids. Then what? To make all this partnering and IP sharing work, there will be more IP transactions as these rights are aggregated, bought, and sold. The IP transaction landscape has seen a lot of changes lately. It was red hot — but it cooled off in Q1 and Q2 of ’09…I believe it will heat up by Q1 of 2010. Here are some of the areas where we see lots of market pull — that is, big players interested in buying.
Digital Rights Management (DRM)
For Medical Devices and Healthcare:
Imaging for diagnostic purposes
Sleep therapy/respiratory care
Decision support systems for doctors
User interfaces on medical devices and software
Patient monitoring (including measuring new parameters like core temperature)
Path finding using imaging devices for robotics in surgery
yet2.combelieves that Open Innovation will be less about scouring the Universe (the scouring function per se is fast becoming a commodity), and more about nurturing and integrating the technology that is found during the search. It’s less about finding the islands and more about building the bridges. This means large companies must be more collaborative — and here’s the big prediction — large companies will partner more aggressively with VC firms and small firms to cultivate a better farm team of new growth opportunities.
With all that collaborating and integration, trust will play a growing role in creating value. This sounds odd, but it’s true. If companies need to partner, that means they will need to be more public about their objectives, their strengths, and their weaknesses. This is tough for anyone, but it’s really tough for a large organization.
Like baseball, the major league companies will make bets on a number of competing technologies, and let success in the minor leagues (the smaller companies) determine which technologies get promoted to the spotlight.
It will be another year before the yet2 team gathers again under the blue sky of Maine to eat lobster and play baseball. But I bet a lot sooner than that, you and your company will have to make a deal that’s critical to your organization, that involves IP — and for which trust will be a critical component.
Tell me if I’m wrong.