What is Innovation!
Innovation is a really exciting topic. I recently heard Thornton May, a renowned futurist, talk on this topic and one thing he said stuck in my mind. He said, Invention is not same as innovation. In his words, “Invention is conversion of cash into ideas and Innovation
is conversion of ideas into cash“.
Innovation can be cheap. Earlier this week, someone told me a story about how sales of washing machines in Punjab, India shot up after somebody came up with an idea to use a washing machine to churn curd/yogurt and blend the ingredients. Apparently, they also use it to make butter and it works like a charm. At first, I didn’t believe it but then, I decided to google it and found that this seems to be a common practice now. Somebody invented a washing machine and someone else innovated and showed people how we can use a washing machine as a big blender & a centrifuge.