Innovation is the application of fresh ideas that enable a business to better compete in the future. Such ideas can include any new or significantly improved goods/services and operational or managerial processes.

Innovation:

• is central to business
• occurs in all sectors
• is a good way to gain an advantage over your competition, but the cost should be weighed against the benefits.

For more information about innovation in New South Wales, including getting support, visit Ausinvent or contact your local Business Adviser.