What is Innovation?


Innovation means coming up with new ways to do things. You can change processes or create more effective products and ideas.

Innovation can help you save time and money. It’s also key to your business developing a competitive advantage and creating a culture of innovative thinking and problem solving.

Innovate Your Business: Your business can be innovative without actually inventing something new.

Innovation can be:

  • Changing your business model
  • Adapting to changes in the environment to deliver better products or services
  • Experimenting with marketing

Resources to Help Your Business be Innovative: When you build something new and innovative, you want to connect your idea with the right customers and audiences.

Support and assistance to help you be innovative:

  • SourceIP is an online tool by IP Australia that connects businesses with Australian public sector research groups.
  • Connecting Australian-European Science and Innovation Excellence (CAESIE) supports science and technology between small to medium enterprises (SMEs) and researchers in Europe and Australia.
  • The CSIRO has several mechanisms for support for innovation, including small and medium enterprise connect and Data61.
  • Reference: