innovation

US /ˌɪn.əˈveɪ.ʃən/
UK /ˌɪn.əˈveɪ.ʃən/
"innovation" picture
1.

the action or process of innovating

:
The company is committed to continuous innovation.
Technological innovation is crucial for economic growth.
2.

a new method, idea, product, etc.

:
The smartphone was a major innovation in communication.
They introduced several new innovations to the market.