Synopsis Innovation is different from invention, an invention is discovery of new methods and new materials, whereas innovation is utilization of inventions to produce new and better quality of products that give greater satisfaction to the consumer and higher profits to the entrepreneur. An inventor gives the idea and an innovator implements the idea for economic gain. Some individuals can be both inventor and innovator. The innovator (entrepreneur) commercially exploits the invention produced by him or by any other person. Similarly, an entrepreneur also exploits creative ideas for commercial gains. The importance of creativity and innovation has risen with the increasing competition amongst corporate. Successful entrepreneurs are realizing that creativity, innovation and even incremental value additions are imperative ingredients to survive the ever-rising competition. The book covers all issues related to the development of economy and entrepreneurship.