What is innovation

by | Apr 24, 2018

What is innovation?

There are many different definitions. Just do a quick Internet search and you will finds dozen’s of definitions.
For us there are two main aspects to innovation. It has to be something new – and it has to have a measurable impact. Innovation can be many things.

A new product (which is what most people think of first), a process change or a new business model. Just to name a few. It is also interesting to see what is not mentioned here: It is not an invention; It is not necessarily creative. Although both can be part of it.

One more thing that is really important. It needs to be different for the end user in mind. This is where we should see the impact of an innovation. If it s a new product or service an innovation need to be adopted by the market / customers. There has to adoption at scale.

We believe innovation is becoming even more interesting and important these days with the move towards a digital economy.