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Innovation
Innovation
Innovation is the development and dissemination of a new product, service or process that produces economic, social or cultural change.
Innovation is the integration of scientific discoveries, new technology and creative activity leading to economic and social value.
According to the Department for Business, Enterprise and Regulatory Reform, innovation is "the successful exploitation of new ideas".
References
BERR definition of innovation
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© 2008 NESTA
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Comments on this article
Added: 17/03/2008 3:28pm
David Simoes-Brown
I'm with the DTI definition. It doesn't limit the scope of innovation to products/services/processes and doesn't mandate integration of science, tech and creative activity. It also assumes some intelligence on the part of the reader to define what is 'new' and what is 'success'. I know top product designers use this one and it works in practice.