A true innovation is much more than just a new idea or product. In this video, HealthMaker Mehmood Khan, MD describes the difference between an invention and innovation.
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Innovation to me is a process with a clear deliverable, and that deliverable is to take invention, and find ways of commercializing it and scaling it, so I distinguish it from invention. Invention is coming up with either a new object, a new ingredient, a new product, but that doesn't stop, if it stops there it's only I didn't mention.
Innovation is when you take that idea, and you actually democratize it so it's now available broadly. Innovation can be in ingredients, products, processes, or business models. It's much broader than we traditionally think of as a set invention.
Mehmood Khan, MD, is chief executive officer of the Global Nutrition Group and chief scientific officer of PepsiCo. He discusses issues of nutrition, hunger, food security and the challenges of feeding a growing world population.
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