“Innovation is change that unlocks new value” - Jamie Notterbelt

Innovation is introduction of a new idea into the marketplace in the form of a new product or service and improvement in organisation or process. Innovation has brought about a significant improvement in the standard of living of the people. Innovation leads to formation of big companies and firms which provides employment to millions of people. One of the most innovative companies of the 21st century is an aerospace startup found in 2002 by Ellen Musk known as SpaceX. Is made history by developing Falcon Heavy, the most powerful operational Rocket in the world. Innovation is directly related to capitalism as well. Capitalism is basically a political system where in the trade and industry are owned and controlled by private businessman rather than the government. Since the economic gains of the country from the field of industry are under the control of private entrepreneurs they are the ones which have the resources and the power to implement their innovations. Innovation is there for a huge asset for the technical and the monetary growth of a country without innovation, the world cannot progress. Aas someone has rightly said,”Innovation is not about ideas it is about making ideas happen”