Match - matching the identified market need with a suitable market-changing solution based on technology sourced from Technology Partners
The second step is to match technology as a solution to the previously identified significant unmet market need by sourcing technologies from Technology Partners. XL TechGroup builds relationships with Technology Partners around the world, including corporations, universities, government laboratories, and agencies which have large portfolios of pre-developed, but unexploited, technologies. These Technology Partners spend over US$4 billion each year on R&D and have more than 35,000 patents in their IP portfolios.
XL TechGroup begins step two by identifying existing technologies or a functional specification of technologies that represents a potential solution. This information is circulated to appropriate Technology Partners as XL TechGroup mines unexploited intellectual property portfolios. Technology Partners may have originally developed potential solutions for applications other than the specified opportunity where an unmet market need has been identified. Therefore, in order to customize a specific solution, XL TechGroup may integrate multiple technologies, repurpose existing technologies, or develop its own in order to solve the particular unmet need of interest.
In most cases, the technologies identified by XL TechGroup as potential solutions have already received significant R&D expenditure by the Technology Partner. XL TechGroup's methodology is to develop relationships with Technology Partners who wish to potentially commercialize that work.
Reducing Technology Development Risk