The difference between innovation, invention and entrepreneurs

Innovation, invention, and entrepreneurship are frequently used interchangeably, but they have separate meanings and implications. An entrepreneur is someone who starts a new business, whereas an inventor creates a new product or solution. Innovations can come from either of those areas or can take many other forms such as a new business model or a new customer experience. Innovation in larger companies requires more assistance and focus on risk-taking, passion, and resources. The policy of governments mainly sponsors and funds new entrepreneurs and start-up businesses, but most of the innovative locations rely on government, education, and technology all closely linked and vital. In summary, invention, innovation, and entrepreneurship are not the same concepts and should not be treated alike.