1. Invention & Innovation created for :INDO – US Science & Technology Cooperation 1

2. 2 Invention: Creation of a new idea or process can be carried out everywhere without an intent of commercialization

3. Innovation : Arranging the economic requirements for implementing an invention The commercialization of a new idea and process 3

4. 4 Diffusion : Adoption and imitation

5. Innovation Vs Invention Innovation is adaptation of an existing invention , idea or process for the process of commercialization Can somethings be innovative but not commercially sucessful Innovation = Invention + Adaptation to the market + Diffusion 5

6. Can something be innovative but not commercially successful 6

7. Technology & Innovation 7 The Mainstream Market The Early Market The Chasm Technology Enthusiasts Visionaries Pragmatists Conservatives Skeptics

8. Innovations need optimization 8

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10. Visit us at: http://www.indousstf.org/US-India-Endowment-Board.html 10