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3 What Is Innovation?
Pages 9-14

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From page 9...
... without having to create that value through innovation.   – Tom Miller A number of interviewees and workshop participants viewed entrepreneurship as a way to bring an innovation to market. Jack Hughes put it this way: "an entrepreneur   In this report, the term entrepreneurship is used to capture both entrepreneurship and intrapreneurship.
From page 10...
... Figure 3-1 illustrates the various associations between innovation and entrepreneurship. DEFINING INNOVATION Perspectives about what constitutes innovation vary, but the 60 interviews revealed common features, illustrated in Figure 3-2.
From page 11...
... fact, as Chad Mirkin clarified, "Innovation should is actually used by society, it cannotonecalled an words of Ashifi Gogo, unless the innovation be helpful to society -- it's great if be makes innovation: "Once you decide that you have a technology that can impact the masses, then you have to ask ‘Where am I today and how far do I have to go for me to be able to do that? ' If the answer is ‘With a year and $3 million worth of funding,' then that's very reasonable if the market size is big.
From page 12...
... So innovation's a breakthrough, something that's really useful and it doesn't have to be patentable, even." Improvement Innovations are typically viewed as "something new." However, all the interviewees and workshop participants emphasized that innovations are improvements, not necessarily just new. Laurie Dean Baird explained her approach to discern the value of an innovation: "If I look at something that's new and ask ‘Is this innovative?
From page 13...
... These are the guys who come to work every day and make it 5 to 10 percent better, and there's a terrible undervaluation of that." Innovation at the Interfaces of Different Disciplines Innovators in all the areas represented -- academia, large companies, small businesses, and the arts -- agreed that innovation occurs at the interfaces of disciplines and requires the synthesis of knowledge from different fields. Yo-Yo Ma captured this aspect using the concept of the edge effect from ecology: "If you think about where new ideas can come from, you need proximity to density, and if you're at the edge of something you see both sides; you already see over the wall.
From page 14...
... It is very much a blend of technology push and market pull in terms of how the innovation is done, especially around completely new classes of technology." CONCLUSION Analysis of the 60 innovators' observations revealed that innovation is an improved product, process, or service that benefits society in a timely and, sometimes, transformational manner. It is a team activity at the intersection of different fields, bringing together diverse ideas, abilities, and/or methods to result in the creation of value.

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