Innovation is a buzzword in our industry that can be hard to concisely define. So, what is innovation?
According to Merriam-Webster, innovation is defined as 1. “the introduction of something new” or 2. “a new idea, method or device.”
Forbes takes a different approach, explaining the many ways in which we can attempt to describe innovation, including: words, reactions, descriptions and strategic criteria.
Why does innovation matter?
Innovation is about challenging assumptions or solving problems. It encourages thinking in a new way and not limiting ourselves to what currently exists or is widely accepted. Innovation is the driving force behind the inventions that have changed our world. Check out the amazing inventors inducted into the National Inventors Hall of Fame® for a better understanding of why innovation is important.
What does it take to inspire innovation?
Developing original ideas and using one’s imagination is critical in innovation. When faced with a problem, there are many ways to reach solutions. The process of working to reach a solution is when creativity occurs, allowing new ideas and concepts to be developed.
Using science, technology, engineering and mathematics (STEM) as a core part of the innovation equation allows individuals to take thoughtful, deep looks at problems and create real-world applications for solutions.
Entrepreneurship is the development of a solution and the establishment of a corresponding business to fill a void or solve a problem. Entrepreneurship is taking the creativity and inspiration involved in being an innovator and sharing the solution with the public. Entrepreneurship is a driving force in our world.
Consider these lessons from some of history’s greatest minds to inspire innovation:
“If we worked on the assumption that what is accepted as true really is true, there would be little hope for advance.” – Orville Wright
"The most dangerous notion a young man can acquire is that there is no more room for originality." –Henry Ford
"Creativity is intelligence having fun." – Albert Einstein
Want to learn more?
Learn more about STEM, Innovation and Entrepreneurship from our white papers: