#2: Understanding Innovation (UCEST206:M1)
Understanding Innovation (UCEST206:M1) Understanding Innovation in Engineering Entrepreneurship What is Innovation in Engineering Entrepreneurship? Innovation in engineering entrepreneurship refers to the application of creative and technological advancements to develop new products, services, or processes that address real-world challenges. It involves leveraging engineering principles, problem-solving skills, and business acumen to create solutions that drive economic and societal impact. There are two key terms here: innovation and engineering . As an engineering student, it's important to understand innovation in the context of engineering and how it applies to entrepreneurship. Innovation can occur in any field—be it science, art, or others. However, in this case, we are focusing specifically on innovation within the field of engineering. Why is Innovation Important? Economic Growth – Drives new industries, job creation, and business success. Competitive Advantage...