innovation

/ˌɪnəʊˈveɪʃən/ noun

Definition

› [C] a new idea, design, product, etc.: innovations in sth recent innovations in technology Product innovations lead to an increase in effective demand which encourages an increase in investment and employment.

› [U] the development of new products, designs, or ideas: He says universities should work with the private sector to foster innovation and entrepreneurship. financial/organizational/technological innovation Their success lies in combining an effective innovation process with superior product concept. → See also product innovation

(Definition of innovation noun from the Cambridge Business English Dictionary © Cambridge University Press)

Focus on the pronunciation of innovation