Hunting for potential business applications with immature technology and immature market: Insights from Clipchamp

As digitalization continues to deepen, the pace of technological development is accelerating at an unprecedented rate. In an environment rich of technology-enabled opportunities, the focal point of analysis is shifting – instead of designing a solution according to requirements, technology entrepreneurs are increasingly bolstered to search for potential business applications with immature technology and immature market. This search process can be challenging because technology entrepreneurs face an exploitation and exploration paradox. Focusing on developing technologies before marketing them may result in technologies difficult to commercialize and incur opportunity costs. In comparison, searching for potential business applications with immature technology can be inefficient due to a lack of focus. We conceptualize this novel search problem as “technology hunt” and differentiate it from relevant research domains. We aim to generate initial process insights into solving technology hunt, through learning from Clipchamp.