I'm following discussions on LinkedIn about innovation in Ireland. College professors teach "innovation is a new way of doing something" or "new stuff that is made useful". It may refer to incremental and emergent or radical and revolutionary changes in thinking, products, processes, or organizations. If it's done well, innovation leads to increased productivity and that is the fundamental source of increasing wealth in an economy. A full page in the Irish Times today makes the point that innovation will be needed to drive the Irish economy out of its current rut. The editor and business writers believe innovation leads to increasing productivity, and that belief is why the Irish government is most likely to continue seeding research budgets.