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What is innovation?

April 26, 2017innovation

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What is innovation?

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Often used as an alternative to inventions and is used to cover both technological advances in production processes as well as the introduction of different attributes and combinations in marketable products or services. In the latter context, innovation is a source of product differentiation and is used by producers to create demand and enhance market share. What are the key dates and deadlines? Please see the section Important Dates.

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Innovation can be defined as “a process that transfers ideas through business activity into saleable goods, processes and service.” On a more practical level, innovation results in creative solutions and enterprises that touch each of us everyday.