Innovation plays a critical role in the development of any nation. Overtime, it has addressed local problems, helped sustained development and improved the quality of life. With the global recognition of its contribution and value creation potentials, Countries, people, businesses and institutions have become more interested in innovation.
The business environment has also become so competitive that the long-term survival and prosperity of firms cannot be discussed without highlighting the critical role of innovation in the subsistence and growth of firms.
Undeniably, we cannot imagine life without Innovation. The value of innovation can be seen in the area of meeting needs of people in a variety of ways. The impact is also evident in efficiency gains in the production of existing goods and the development of new products in addition to creative alternatives to public services.