# innovation

> application of better solutions that meet new requirements, inarticulated needs, or existing market needs

**Wikidata**: [Q174165](https://www.wikidata.org/wiki/Q174165)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Innovation)  
**Source**: https://4ort.xyz/entity/innovation

Here’s the structured knowledge entry for **innovation** based on the provided source material:

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## Summary
Innovation is the application of better solutions that meet new requirements, inarticulated needs, or existing market needs. It encompasses processes like technological change, disruptive innovation, and social innovation, driving economic activity and sustainable development.

## Key Facts
- **Definition**: Application of better solutions to meet new or existing needs.
- **Types**:
  - Technological innovation (e.g., AWS, bleeding-edge technology).
  - Disruptive innovation (e.g., creating new markets, displacing established firms).
  - Social innovation (e.g., solving social challenges).
  - Open innovation (e.g., promoting information-sharing).
  - Eco-innovation (e.g., sustainable development).
  - Financial innovation (e.g., new securities).
- **Related Processes**:
  - Technological change (invention, diffusion).
  - Leapfrogging (skipping development stages).
- **Connected Entities**:
  - Academic disciplines (e.g., economics, computer science).
  - Events (e.g., Google I/O, World Creativity and Innovation Day).
  - People (e.g., Eric von Hippel, Werner Vogels).
  - Organizations (e.g., Ministry of Climate and Enterprise, Bizkaia Talent).
- **Historical Examples**:
  - Đổi Mới (Vietnam’s 1986 economic reforms).
- **Wikidata Properties**:
  - Instance of: Q116505632, Q11862829.
  - Subclass of: Q104637332, Q105606485, Q3249551, Q8187769.
  - Sitelink count: 89.

## FAQs
### Q: What are the main types of innovation?
A: Innovation includes technological, disruptive, social, open, eco, and financial innovations, each addressing different needs and sectors.

### Q: How does disruptive innovation work?
A: Disruptive innovation creates new markets and eventually disrupts existing ones, often replacing established firms and products.

### Q: Who are key figures in innovation?
A: Figures like Eric von Hippel (economist) and Werner Vogels (AWS architect) have shaped innovation in technology and economics.

### Q: What is leapfrogging in innovation?
A: Leapfrogging involves skipping stages in development to achieve rapid progress, as seen in technological adoption.

### Q: How does eco-innovation contribute to sustainability?
A: Eco-innovation develops products and processes that align with sustainable development goals, reducing environmental impact.

## Why It Matters
Innovation drives economic growth, solves societal challenges, and enables technological progress. It fosters competition, creates new industries, and improves efficiency. Without innovation, industries would stagnate, and markets would lack solutions to evolving needs. It is fundamental to technological change, economic activity, and societal progress.

## Notable For
- **Driving Economic Activity**: Powers industries and creates new markets.
- **Technological Advancements**: Enables breakthroughs like AWS and bleeding-edge technologies.
- **Social Impact**: Addresses unmet needs through social and eco-innovation.
- **Global Influence**: Shaped by events like World Creativity and Innovation Day.
- **Historical Reforms**: Inspired policies like Vietnam’s Đổi Mới reforms.

## Body
### Types of Innovation
- **Technological Innovation**: New developments in productivity, efficiency, or product enhancement (e.g., AWS).
- **Disruptive Innovation**: Creates new markets and disrupts existing ones (e.g., smartphones replacing feature phones).
- **Social Innovation**: New practices solving social challenges (e.g., community-driven solutions).
- **Open Innovation**: Promotes information-sharing and collaboration (e.g., Stanford’s policies).
- **Eco-Innovation**: Sustainable products and processes (e.g., green technologies).
- **Financial Innovation**: New securities and financial products (e.g., cryptocurrencies).

### Related Processes
- **Technological Change**: Involves invention, diffusion, and adoption of new technologies.
- **Leapfrogging**: Skipping stages in development to achieve rapid progress (e.g., mobile networks).

### Connected Entities
- **Academic Disciplines**: Economics, computer science, and sociology.
- **Events**: Google I/O (2008–present), World Creativity and Innovation Day (2018–present).
- **People**: Eric von Hippel (economist), Werner Vogels (AWS architect).
- **Organizations**: Ministry of Climate and Enterprise (Sweden), Bizkaia Talent (Spain).

### Historical Context
- **Đổi Mới (1986)**: Vietnam’s economic reforms that spurred innovation and growth.
- **Google I/O**: Hosts developer conferences to showcase bleeding-edge technology.

### Wikidata Properties
- **Instance of**: Q116505632 (innovation), Q11862829 (economic activity).
- **Subclass of**: Q104637332 (process), Q105606485 (economic activity).
- **Sitelink count**: 89 (indicating widespread interest).

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## References

1. Freebase Data Dumps. 2013
2. BBC Things
3. YSO-Wikidata mapping project
4. Quora
5. KBpedia
6. [Innovation | bpb](https://www.bpb.de/nachschlagen/lexika/politiklexikon/17641/innovation)
7. [OpenAlex](https://docs.openalex.org/download-snapshot/snapshot-data-format)