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What is Innovation? Innovation is the process of arrivals at a new level or state of being in an otherwise existing system. Innovation is often considered to be the discovery of new ways of doing things, but it can also refer to different levels of change in an industry or society. gadgets, products, and services that are different from those available before are often called “innovation.” In technology, innovation refers to any significant change in how a product works that allows for increased productivity or efficiency....