Below, we listed 26 synonyms of innovation. None shouts tech!
change alteration revolution upheaval transformation
metamorphosis reorganization restructuring rearrangement
recasting remodelling renovation restyling
variation new measures new methods new devices
novelty newness unconventionality modernization
modernism a break with tradition a shift of emphasis
a departure a change of direction
But why do some people think tech when they hear about innovation?
Innovation is not the same as technology — it’s more than that. What we have to realize is that learning the technology is not the innovation; it is what you do with it that becomes “new and better” which embodies the innovation we seek. True innovation is about doing something new: developing better processes or bringing improved products and services to market.
So, while everyone focuses all their attention on the tech-driven startups coming out of Yabacon Valley, smarter organisations (banks and other investors) have a broader view, and are looking out to support startups/small businesses — techie or not — with unique business models and distinctive value proposition. This is because at its core, innovation is about the following three things: context, timing, and meeting some critical need.