Different Stages of Technological Innovation
Technological innovations comprise new products and processes and significant technological changes of products and processes. Technological innovation is a complex set of activities that transforms ideas and scientific knowledge into physical reality and real-world applications.
It is a process that converts knowledge into useful products and services that have a socioeconomic impact. It requires the integration of inventions and existing technologies to bring innovation to the marketplace.
Technological innovation is a part of the total innovation discipline. It focuses specifically on technology and how to embody it successfully in products, services, and processes.
Technology as a body of knowledge might thus be seen as a building block for technological innovation, serving as a cornerstone to research, design, development, manufacturing, and marketing.
