Innovation and Invention

Innovation Invention

Definition Convertor additionally of some existing
technology, method or procedure to
improve the performance
(කාර්ය සාධනය වැඩි දියුණු කිරීම සඳහා පවතින
යම් තාක්‍ෂණයක්, ක්‍රමයක් හහෝ ක්‍රියා
පටිපාටියක් පරිවර්තනය කිරිම)
Identify completely new practical problem or
perceived need and lead the concept to new
product
(ප්‍රාහයෝගික ගැටලුවක් හහෝ අවශ්‍යතාවයක්
හඳුනාහගන එම සංකල්පය නව නිෂ්පාදනයක්
හවත හයාමු කරන්න)

Advantages • Improve existing technology • Most often takes time

and • Less risk • May cost more
Disadvantages • More chance of success • more and long return investment
• More return on investment quicker (වැඩි සහ දිගු ප්රතිලාභ ආහයෝජන)
(ආහයෝජනහේ වැඩි ප්‍රතිලාභ • It is challenge to make the new
ඉක්මනින්) product or service
(නව නිෂ්පාදනයක් හහෝ හස්වාවක් කිරීම
අභිහයෝගයකි)
Feature • Small changes • Low success rate
• Quicker development • Extended research period
• Managerial support • Question of patenting
(කළමනාකරණ සහාය) • Time of the patent
• Managerial suspicion
(කළමනාකරණ සැකය)
Other • Improvement in the quality of a product • • Companies – Research and
Aims to keep its manufacturing cost low Development can come up with new
• Competitive advantage in the market products
(හවළඳහපාහල් තරඟකාරී වාසිය) • Research Organizations – Studies can
• Least financial and technological risks show new results
• Quick return for investment • Individuals – Knowledgeable and
• More effective use of resources in a have experience can come up with
production process new ideas
• Improved quality control
• Transfer of a successful technical solution
to another application
Rout Step Action Task Step Action Task

1 Evaluate Market opportunities 1 Identify Problems offering

for inventions and inventive opportunities
improvements
2 Quantify Works scope 2 Generate Original ideas

3 Seek Funds and sponsors 3 Verify Their originality

4 Solve Outstanding problems 4 Select The most promising

by doing research and idea
development work
5 Construct A prototype for testing 5 Check Its feasibility with a
physical model
6 Prepare For introduction to the 6 Patent The product for
market protection purposes