Strategies and possible directions to improve Technology Scouting in China

This paper examines how theoretical and cultural dimensions in China challenge the use of the generic Open-Market Innovation model by companies in general and one sample Company in China in particular. To carry this analysis out, several interviews with venture technologists and innovators of a company in China were conducted and results are concluded out of business case studies. The outcome of these analyses shows that an Open-Market Innovation Company in China is constrained to a certain degree by political and cultural challenges. Nonetheless, the importance of the Chinese market makes a strong argument for developing an effective business model for China. Therefore, this article concludes that the focus going forward must be on seeking opportunities to improve Technology Scouting in China.