Innovation

Innovation refers to the process of creating and implementing new ideas, products, services, or methods that bring about significant improvements or changes. It involves the introduction of something novel that addresses a particular need or problem, enhances efficiency, or provides a competitive advantage. Innovation can take various forms, including technological advancements, novel business models, or creative solutions to existing challenges. It is a key driver of economic growth and societal progress, often resulting from collaboration across different disciplines and sectors. The concept emphasizes not just the invention of new concepts but also their practical application and impact on users and markets.