PTE RETELL LECTURE 02 - HIGHLY REPEATED IN PTE TEST

PTE RETELL LECTURE 02 - HIGHLY REPEATED IN PTE TEST

He said innovation equals invention, and let me just stop here. Innovation equals invention often people mistake these two things for the same thing.
Innovation equals invention, they are not. Innovation is something that generates value for the world, it makes something faster, better cheaper.
It gives someone some great satisfaction. And invention is an idea, a technology, a patent in and of itself. It does not generate value.
So, these two are not the same thing, and sometimes you see them interchange and that's not correct.
So innovation equals invention times commercialization.

So and when we look at this equation of innovation, something of value.
It requires a new idea, and then it requires someone or some organization that is going to commercialize that idea and to make it a value to the world