Defining Digital Innovation
Hidden Innovation
Innovation is a critical part of any economy and, as such, it has been the focus of intense study by economists and others for many years. The UK Organization NESTA has defined innovation as the process by which new ideas turn into practical value in the world: new products, services, or ways of doing things. NESTA also emphasized on ‘Hidden Innovation’ on their 2007 report which further explains it, saying, “Hidden innovation is new activity that does not immediately register in economic indicators such as investment in R&D and patent. “Hidden innovation” is used to emphasize that some innovations are not necessarily new or obvious to many people.