Innovation
/ˌɪnəˈveɪʃən/
Definitions
2 meaningsThe action or process of introducing new ideas, methods, or devices.
/ˌɪnəˈveɪʃən/
The introduction of something new.
The company's success is based on its continuous innovation.
💡 Simply: Innovation is like coming up with a super cool new idea or method that hasn't been tried before, like creating a new game that everyone loves. It's about making things better or different!
👶 For kids: Making something new and better!
More Examples
Innovation is key to solving global challenges.
The museum showcased recent innovations in art and design.
How It's Used
"Companies strive for innovation to gain a competitive edge."
"Technological innovation has transformed communication."
"Scientific innovation is essential to the expansion of knowledge and understanding."
A new idea, method, or device.
/ˌɪnəˈveɪʃən/
The new app is a remarkable innovation.
💡 Simply: It is also the new thing that's been created. For example, self-driving cars are an innovation.
👶 For kids: A new thing that is made to make something better or easier!
More Examples
This innovation has revolutionized the industry.
The company is known for its groundbreaking innovations.
How It's Used
"The latest innovation is a self-driving car."
"The new building is a significant architectural innovation."
"This product is a real innovation in the market."
Synonyms
Idioms & expressions
Innovation ecosystem
A network of interconnected entities that support and promote innovation. It often involves various elements like research institutions, universities, startups, investors, and government.
"The city has fostered a strong innovation ecosystem, attracting tech companies."
Open Innovation
A distributed innovation process based on purposively managed knowledge flows across organizational boundaries. This can involve both inbound and outbound knowledge transfer.
"Companies are increasingly adopting an open innovation model, collaborating with external partners."
From Latin *innovatio* ('a renewing, alteration'), derived from *innovare* ('to renew or alter'), from *in-* ('in, on') + *novare* ('to make new'), related to *novus* ('new').
The word 'innovation' gained prominence during the Industrial Revolution as a key driver of economic and social change, reflecting the advent of new technologies and methods.
Memory tip
Imagine a new invention, like a self-folding laundry basket – that’s innovation!