George Keller, Ph.D., chief engineer at MATRIC | Mid-Atlantic Technology, Research & Innovation Center, addresses the Society of Plastics Engineers‘ ANTEC 2013 conference today in Cincinnati, Ohio.
His presentation outlines the importance of differentiating between invention and innovation. The former primarily concerns the discovery or identification of something new with possible uses in the real world. Innovation is often times a series of actions which bring to fruition a product, process, service or idea that meets real or potential needs in new ways. Innovation almost always requires a much broader spectrum of inputs, often beyond technical considerations.
Keller says MATRIC has been effective at innovation because its experts understand not only how to create technology, but also know the nuances of raising capital, establishing intellectual property, identifying potential markets and developing a work atmosphere that systematizes the entire process.