Defining Innovation

According to one of my mentors, Bill Aulet;

Innovation is the product of invention and commercialisation.

An Invention could be a technology, idea or any form of intellectual property.

The entrepreneur doesn't have to be the originator for innovation to take place.

The idea or technology can be adopted from any industry or location.

But monetization must take place by the founder or agent of change.

It's a misconception to think innovation is only technological centered;

Innovating a business strategy, process, and even market positioning is possible.

Are there opportunities for technology-driven innovation within your locality?

Check out how some business models are leveraging on technology.

Let's review the following innovation in our generation;

Visit the website of Zipcar and Netflix,

What's your perception or observation?

Share your thoughts in the comment section below.