Innovation refers to the process of creating and implementing new ideas, products, services, or processes that provide significant improvements or enhancements compared to existing solutions. It involves the introduction of something novel that adds value, potentially transforming industries, markets, or everyday practices. Innovation can occur in various forms, such as technological advancements, creative solutions to problems, or improvements in efficiency and effectiveness. It is a key driver of economic growth and competitiveness, fostering progress and adaptation in a rapidly changing environment. The term can encompass incremental changes as well as radical breakthroughs, emphasizing the importance of creativity, research, and development in the pursuit of advancement.