Due to the very initial state of the Mobile Internet market formation, there are many technological solutions available and still to come to markets. Firms are beginning to build new applications based on Wireless E-Business. Technology selection is crucial for the best return on investment as well as the manageability of the systems, including user support and security. Technology selection always contains a risk. In this paper we present results of the application of need assessment in technology selection in companies. By analyzing future application needs we have built a foresight to reduce risk in the technology selection for a firm. The data for our research was created in two separate innovation sessions with lead users in Group Decision Support Systems Laboratory (GDSS). In those sessions we generated ninety-seven Wireless E-Business applications, which will create benefits or open completely new business opportunities for the case firms’ business. Based on the application requirements we specified the technologies satisfying them. Taking into account the fact that application implementation takes two to four years from innovation to start-up, it is possible to create a foresight of the future application requirements for technology and thus reduce firms’ risks in technology selection.