Introduction To Innovation And Entrepreneurship

Innovation and Entrepreneurship are two common concepts found in political discussions pertaining to economic growth and sustainable development. Entrepreneurship can be defined as innovation in Schumpeter's terms, creating a distinction between entrepreneurship, innovation, and economic growth. On the other hand, innovation is implementing and executing a new or significantly improved product or organizational method. Innovation and Entrepreneurship are essentially two sides of the same coin and can be defined through their relation, as entrepreneurs require innovative phenomena and practices to be successful. To prepare young minds to be design leaders, MIT ID Innovation provides new pedagogical approaches and meaningful collaborations, focusing on leading the way in creative and experimental practices by young innovators.