Over recent years, working with government investment promotion agency (IPA) clients from all parts of the world, GDP has adopted, then developed the process of "Technology Mapping" for use in investment promotion.

• Technology Mapping describes the process that an agency, region or government adopts in determining the technology assets that are relevant to future businesses
• Technology Mapping is a similar but simpler, less time consuming, less expensive and often a more adequate analytical process, than cluster development.
• Cluster development, on the other hand takes in the relationship between organisations that affect the processes of innovation, technology development and marketing. Whilst this is important in a lot of regional situations, it is very often too complex and unaffordable for most IPAs.

IPAs/regions are potentially vulnerable to more technology-aware competitors in the marketplace.

• Many IPAs struggle to keep in touch with new technologies and opportunities
• Scant resources may be available for assessing future technology trends and aligning this to global/regional opportunities
• Plus, the rapid rate of change makes it difficult to keep track of key trends in the marketplace

 GDP's Technology Mapping process assists IPAs as follows:

• The IPA, often in partnership with other, more technology-based public or private organisations, will undertake Technology Mapping to identify and then to tap 'hidden resources' within the region's institutes, companies, universities etc.
• The term "technology" should not be taken too literally: we mean technology plus business practices where these are presenting productivity and competitiveness' advantages.

Many best practice IPAs or their partner agencies/organisations use technology mapping as part of their competitive advantage:

• They assemble, then use their in-built experience, research and global networks to be aware of the key changes that will take place in key industries, then to see what their region has in terms of opportunities
• The IPAs promote these opportunities to new international investors, business networks and support companies in technology marketing, legal and venture capital
• Existing local companies also benefit from the promotion of the relevant technologies. Local companies potentially can sharpen competitive edge
• By locating in and working from the region, companies will hopefully find rewarding new routes to market and achieve greater efficiencies and enhanced customer service

Contact GDP for examples of how Technology Mapping might be of benefit to your region.