Innovation Innovation is the application of new ideas, concepts, products, services and practices, with the intention of being useful for increasing productivity. An essential element of innovation is its application commercially successful. Not only must we invent something, but, for example, insert (Diffusion (business)) in the market so that people can enjoy it. Innovation requires awareness and balance to carry the ideas, the field imaginary or fictitious, the golf achievements and implementations. citation needed innovare innovate comes from the Latin, meaning act or effect to innovate, become new or renew, to introduce a novelty.