Innovation vs. Invention in Corporate Dynamics

Invention focuses on new ideas; innovation creates value

Invention is described as the creation of an entirely new idea. The first PC, the internet, and cryptocurrencies are all examples in living memory. They focus on bringing something new to the table and pushing the boundaries of knowledge and capabilities.

Conversely, innovation is about the application of the idea, where you think about the value that it can offer the end user. It often builds upon existing ideas and turns them into a more practical solution.

Innovation can focus on different implementations, for example incremental or adjacent innovation. Invention however is often radical, as new ideas are designed to (potentially) reshape entire industries.

Innovation and invention occur at different stages

Invention comes at the first stage of the creative process. After all, every great product starts with an idea. It begins with a concept, which can then be developed into a design before moving on to the practicalities and viability. 

Supporting a company-wide approach to innovation, ensures that more ideas are generated while giving employees time to work on their ideas, will result in more concepts surfacing. Good innovation is about killing bad inventions early, but you also need to create a tolerance to failure.

Invention is often a solo venture; innovation supports collaboration

While not always, invention often begins with an idea from a single person. This is because inventions often starts as a vision that the individual has, along with the impact it can have.

Innovation is often more open to collaboration as it focuses on developing concepts into products or services that are ready for market. As innovation often revolves around client-centric solutions, gaining input from top-down and bottom-up perspectives is key to maximize the chances of discovering the most effective application and implementation.

Invention is about discovery; innovation is about adaptation

While both concepts rely on experimentation, innovation uses creative thinking and adaptation to reflect evolving market landscapes. Meanwhile, invention uses original research and stems from curiosity.

The main driving forces of innovation are customer experiences, revenue growth, and product development while the goal is ultimately to solve problems. However, invention largely focuses on an innovator’s passions and desire to explore new ideas that may even create new problems to solve. Invention acquires knowledge, while innovation applies it.

The final word

Perhaps the easiest way to think about invention versus innovation is to consider that the former describes the “what” while the latter focuses on the “how and why”. The simplified definition shows how invention can become a subset of innovation.

To see the best results, creativity needs to be actively supported at each stage of the funnel. An innovation management solution is the best way to achieve this, not least because it turns innovation into a discipline.