What is innovation? Participants in the Lisbon Council’s 2010 Innovation Summit answer.

Innovation is?

Pronunciation: /(ĭnˌə-vāˈshən)/
Function: noun
1 : the introduction of something new
2 : a new idea, method, or device
3 : The act of innovating; the introduction of new things or methods.

(source : Wordnik, Lisbon Council)