Innovation, Technology, & Entrepreneurship

Innovation?

Innovation is nothing but transforming an idea or invention into a good or service that creates value or for which customers will pay.

Technology?

Making modification, usage, and knowledge of tools, machines, techniques, crafts, systems, and methods of organization, in order to solve a problem, improve a pre-existing solution to a problem, achieve a goal, handle an applied input/output relation or perform a specific function.

Disruptive Technology?

An innovation that helps create a new market and value network, and eventually disrupts an existing market and value network (over a few years or decades), displacing an earlier technology.

Entrepreneurship?

The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.

Relation: Innovation leads to Technology that leads to many opportunities for the Entrepreneur.