Innovation

In any industry, the introduction of new goods or new methods of production, or the opening of new markets or new sources of supply, and the development of a new supply and value chain. The OECD Oslo Manual distinguishes between innovation as an outcome (an innovation) and the activities by which innovations come about (innovation activities). The latest edition defines an innovation as “a new or improved product or process (or combination thereof) that differs significantly from the unit’s previous products or processes and is made available to potential users (product) or brought into use by the unit (process).”

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