To make technology investments, technology can be acquired through three different factors. The headings for these three main factors are innovation, creativity, and entrepreneurship. While innovation and creativity are both related but different concepts, entrepreneurship is related to both. I will try to explain each of these concepts and then explain the differences or relationships between them.
What Is Innovation?
Innovation is a word derived from the Greek word “kaintomia” or the Latin word “inovatus.” Although the Turkish equivalent of this word may be “yenilik” (innovation), it is not possible to express it exactly with one word. because innovation is not just about finding something new. When innovation is done, an existing product or idea is developed, something is added, and through this change, people’s needs are met while working towards this goal.
Innovation is expected to result in stronger outcomes in society and the economy, while innovative thinking is the conversion of a creative idea into commercial wisdom. Product innovation, service innovation, process innovation, and marketing innovation can be chosen for innovation. To briefly mention these innovations:
- Product innovation is to produce a new product instead of a better and superior quality of an existing product by introducing new benefits to the market. For example, developing a product that makes it easier to make yogurt by having a mixer in it instead of producing yogurt in a container is an example of innovation.
- Service innovation is to make any service more beneficial to consumers or businesses. Especially in recent years, shopping applications that make existing shopping services easier have provided innovation for both consumers and businesses.
- Process innovation is the improvement of processes for individuals or companies that leads to increased efficiency and cost savings.
- Marketing innovation is considered an improvement in marketing to achieve a sustainable structure by increasing customer satisfaction for the product or service offered.
What Is Creativity?
After explaining the concept of innovation, it is also possible to talk about the concept of creativity. Creativity is both a personality trait and something that can emerge as early as childhood.Researchers, those with self-discipline, independence, the ability to generate original ideas, those who are energetic, trust their instincts, and those who are curious can all be creative.However, creativity is described as having cognitive abilities to create new and useful products, services, or solutions.
When creativity is mentioned, fields such as art, literature, and cinema have been known for a long time, but today it is also an important concept, especially in science and technology investments. Because of investments in technology, we need creative minds and courage. Creativity gives us the chance to make new things, things that we have not thought of before or that we have not been able to make logical and useful.
The Relationship Between Innovation And Creativity
Now that I’ve explained the concepts of innovation and creativity to you, I can also explain the difference or relationship between them. A person with creative intelligence can create art with their mind as well as develop new technology or a new product idea. However, just developing this product as an idea and keeping it alive in dreams is not enough. Innovation brings the beauty and innovation created by creativity to life.
Creativity means creating something new or finding or developing an idea that will change the existing thing. Innovation, on the other hand, is the process of obtaining a technology, product, service, or solution by turning the innovation obtained through creativity into reality. In fact, there is a clear difference between innovation and creativity. While creativity is about imagining something and finding original ideas, innovation is about creating a new method, idea, or product.
The relationship between innovation and creativity is as important as the difference between them. Because when an idea for a technology investment comes out, if the person does not turn it into an innovation, you will not have the opportunity to invest. However, if there is a desire for innovation, there may be an opportunity for technology investment.Although creativity can appear in every individual without the need for innovation, innovation always appears after creativity. For example, virtual reality glasses invented by Hugo Gernsback for entertainment have been used for 50 years. These glasses are an important innovation obtained and developed through creativity.
Development Of Creativity And Innovation Competencies
Creativity is a skill, but innovation is also a skill that must be possessed to take creativity to a higher level. In fact, everyone can have creative ideas and come up with logical, crazy, or previously unthought-of ones. However, some people have the skill of creativity, and these people use their imaginations when approaching problems or situations.
When a person has the skill of creativity, they are inclined to solve problems, make a difference, be innovative, and avoid monotony. If you are one of these people, you can develop your creativity by taking notes on everything, participating in different projects, listening to music that benefits you, reading books, and constantly experimenting to improve yourself. But you should also develop your innovation skills as much as your creativity skills. This skill means being innovative, and an innovative person does not shy away from experimenting, taking action, and developing. You must be passionate and give every innovation a chance to develop your innovative ability.
What Benefits Do Innovation And Creativity Have For Entrepreneurship?
Entrepreneurship is the most important step that comes after being creative and innovative. A person may want to make money and offer something to people by having a good idea for a product or servicet to make money and offer something to people by having a good idea for a product or service. Especially for us, entrepreneurs provide the most important fields for technology investments. When an entrepreneur does not have a budget and is looking for a way to make an innovation happen, he or she can turn to a technology investor.
Technology investing has formed an inseparable bond with entrepreneurship. An investor is someone who has a budget, supports development, and can accept new things. Therefore, the door is open for the entrepreneur to pursue any logical and development-oriented idea. As previously mentioned, if there is creativity, this creativity can be turned into innovation. To make an innovation, it is necessary to be an entrepreneur first and to find all the financial and moral resources that will turn this idea into reality.
Technology investments take shape with the help of entrepreneurs, but various concepts can also be discussed in entrepreneurship. For example, opportunity entrepreneurs (creative entrepreneurs) are the most beneficial people in technology investment in terms of quickly obtaining growth with the creative knowledge and skills they have freely obtained. Internal entrepreneurs undertake entrepreneurship within a structure, while external entrepreneurs act independently with their own business plans.
The female entrepreneur is particularly important in Turkey, while the social entrepreneur undertakes business without seeking material benefit. Today, the most important point for us is to be able to see ourselves as technology entrepreneurs. A technology entrepreneur is a person who wants to innovate to turn technological ideas into investment. Entrepreneurship is a concept that completes innovation, and actually, innovation is required for entrepreneurship to emerge. As mentioned, innovative ability is a requirement to obtain an enterprise, as we have seen in technology investment.
See you in the next post,