It's amazingly simple! Major companies around the world have more technology and R&D projects than they have time or the resources to develop internally. Over the years, these companies have learned that, in many cases, they can outsource this development to expert scientists and engineers. In fact, a recent Harvard Business School study found that many of the most challenging R&D problems are solved by people who were on the boundary or outside of their fields of expertise, as they push beyond traditional approaches. The TekScout Open Innovation Network makes it easy for companies (we call them TekScouts) to post these projects and find scientists and engineers (we call them TekExperts) find R&D challenges that need solving, providing them both financial and intellectual rewards for their solutions.
As a subscription service, TekScouts can be confident that our TekExperts are serious about their intentions and motivations to solve challenging development problems.
So here's how it works:
A TekScout, who has a technology that needs to be developed, posts the project on the network. A brief synopsis of the project can then be viewed by anyone visiting the site. A more in-depth discussion including timeframes, success fees, and milestones are available only to registered TekExperts who may be interested in solving the challenge. These in-depth descriptions will allow TekExperts to understand the basics of the project, and provide enough detail to formulate a proposal. A TekExpert registers on the network adding his credentials, field and keywords associated with his expertise and professional affiliations. That's where we come in. We will constantly monitor new projects, and will notify TekExperts whenever a project in their field of expertise is posted. If a TekExpert sees something in their field of expertise, they can email questions, and/or propose a solution to the TekScout. If interested in the solution, the TekScout will engage the TekExpert to solve the problem. It's that easy!