Definition
Process by which an idea or invention is translated into a good or service for which people will pay. To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need. Innovation involves deliberate application of information, imagination, and initiative in deriving greater or different value from resources, and encompasses all processes by which new ideas are generated and converted into useful products. In business, innovation results often from the application of a scientific or technical idea in decreasing the gap between the needs or expectations of the customers and the performance of a firm's products. In a social context, innovation is equally important in devising new collaborative methods such as alliance creation, joint venturing, flexible working hours, and in creating buyers' purchasing power through methods such as hire purchase.
( Quoted from : http://www.businessdictionary.com/definition/innovation.html )
The definition same as this picture. to be called an innovation, it must also be replicable at an economical cost, and must satisfy a specific need. That's why only a few inventions lead to innovations because not all of them are economically feasible.
This picture is showing the cup is black in color at first, but it's become more and more white when the coffee is pouring into the cup. At last, the cup is white and inside is full of coffee.
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