Innovation refers to the process of developing new ideas, products, services, or methods that significantly improve upon existing standards or create entirely new value. It involves creativity and experimentation and can take various forms, including technological advancements, inventive business models, or novel applications of existing knowledge. Innovation is crucial for driving economic growth, improving efficiency, and enhancing quality of life. It can occur in various sectors, such as technology, healthcare, education, and manufacturing, and often requires collaboration among individuals, organizations, and institutions to bring about transformative changes. The ultimate goal of innovation is to meet changing needs and aspirations in a dynamic environment.
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