VOL 35: INVENTION & INNOVATION- Part 1

Hey Friends 🤓,

Trust you all had a great week 🤗?

Today at a Glance:

• Quote of the Week

• Invention & Innovation

• What is Invention?

• What is Innovation?

• Face of the Week

• Business & Startups

• Random Facts

• Tweet of the Week

Quote of The Week

“Invention Is Easy — Innovation Is Genius.”

—

Unknown.

Invention & Innovation

In the business world, the term "innovation" has become a catchphrase; calling a company "innovative" is the way to go if you want to praise them. This has occurred discreetly, at the expense of another word that we no longer hear often.

The term "invention" has all but vanished from the commercial language. It's easy to overlook its absence; after all, many people mistakenly believe that innovation is simply a fancy new word for invention and that the two are effectively interchangeable. This is not only incorrect, but it also leaves out a few essential nuanced meanings that might influence the course of a conversation.

Although the two terms are closely related, they are not synonyms and should not be used interchangeably - innovation and invention are two distinct concepts. Innovation brings the concept of "use" of an idea or approach, whereas invention is about creating something new.

Let’s pick them one after the other.

Invention

Invention can be defined as the creation of a product or the introduction of a process for the first time. They are the driving force for technological development which is crucial for a civilization’s development, prosperity, quality of life as well as the convenience of everyday lives of people.

Certain inventions have increased human productivity several dozen of times. Thanks to technologies like the Steam Engines, which freed farmers from the hard and exhausting work from dawn till dusk because it provided them with tractors and harvesters.

It also led to the invention of Trains, then cars, then airplanes which have made travelling around the world easier and faster. However, not every invention contributes to technological development and some are never widely used.

Here comes the question Why?

Numerous inventors throughout history have invented technological solutions that far outstripped what people knew at the time, yet their creations were either forgotten or did not find widespread acceptance in the society of their era.

Leonardo Da Vinci, widely regarded as one of the great Renaissance men, is an example of this situation. He invented dozens of technologies that were only used centuries later. He is credited with inventing the idea of the parachute, helicopter, and other devices, but none of these were used until a few centuries later.

To understand the reason behind this, I’ll quote;

“Not every invention changes the world and certainly not everyone does it immediately or through the action of the inventor himself. It is not the fault of fate or the immaturity of society unable to appreciate the inventor’s genius.

In order for the invention to become a breakthrough and to change the lives of the masses, it must become an innovation."

Innovation

This is the practical application of inventions into marketable products or services. It can also be defined as an invention implemented and used on a large scale.

Gutenberg’s printing press invention would not matter at all if it were not adopted by others and if it soon did not become widely used to print writings, including the translation of the Holy Bible into national languages.

For an invention to become an innovation, it requires subsequent improvements after being invented and mass sales, it has to be successfully presented to the masses and sold to the market.

• Tim Berners Lee invented the world wide web, Netscape created the first web browser making the world wide web accessible to people.

• Mark Zuckerberg innovated on the internet to create the first social network accessible to billions of people.

• Henry Ford made the car available for every man at a price every man can afford.

The inventor of course is the father of the invention but entrepreneurs are the father of innovation. Sometimes it is one in the same person, history knows many inventors-entrepreneurs such as Thomas Edison.

Innovation is all about building value from an idea or ideas, and it's usually a journey and not a "light bulb" moment, and entrepreneurs are the people who make it happen.

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FACE OF THE WEEK

ISAAC NEWTON (1643 – 1727)

He was an English mathematician, physicist, astronomer, alchemist, theologian, politician, and author who was widely regarded as one of the greatest mathematicians and physicists of all time, as well as one of the most influential scientists of his day. He was a significant player in the Enlightenment philosophical movement.

He shares credit with German mathematician Gottfried Wilhelm Leibniz for developing the infinitesimal calculus. It is now well established that Newton developed calculus first, but that Leibniz was the first to publish on the subject.

Newton himself often told the story that he was inspired to formulate his theory of gravitation by watching the fall of an apple from a tree. Voltaire confirmed the incident by writing in his Essay on Epic Poetry (1727), "Sir Isaac Newton walking in his gardens, when he had the first thought of his system of gravitation, upon seeing an apple falling from a tree."

He was elected president of the Royal Society of London in 1703 and became the first-ever scientist to be knighted in 1705.

In a 2005 survey of members of Britain's Royal Society (formerly headed by Newton) asking who had the greater effect on the history of science, Newton or Albert Einstein, the members deemed Newton to have made the greater overall contribution.

The SI derived unit of force is named the newton in his honour. In 1816, a tooth said to have belonged to Newton was sold for £730 (US$3,633) in London to an aristocrat who had it set in a ring. It was listed in Guinness World Records in 2002 as the most valuable tooth, with a value of around £25,000 (US$35,700) in late 2001.

Business & Startups

Norebase

Norebase is a Nigerian trade tech firm that helps companies start, scale, and operate in any African country or expand their Business across Africa.

Norebase knows that there's an opportunity to grow successful businesses in Africa. They also understand the complexities of the market, as a result, they are utilizing technology to make doing business in Africa more attractive and accessible. With Norebase you get to operate in Africa with no hassle and with minimum risk.

They are currently available in Nigeria, Kenya, Ghana, South Africa, Rwanda, Senegal, Togo, Tanzania, Ivory Coast, Egypt, Mauritius, Burkina Faso and Delaware USA. They recently raised $1 million in a pre-seed round.

Company's website: www.norebase.com

Random Facts

The United States Air Force is the largest in the world. The United States Navy is the second-largest air force in the world.

Tweet of The Week

Orange Book 🍊📖 @orangebook_

Life doesn’t reward you because you suffered. Life rewards you because you make the right sacrifices.

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Enjoy your weekend.