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INVENTION - creating new products that do not already exist INNOVATION – “is the process of improving and changing a technology that already exists”
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Having an idea is one thing, but to make it successful is another… Developing a prototype is key - one that works and is appealing to a target market.
During the episode, observe/analyse: the prototypes (colour, package, size, materials) What problem did each entrepreneur solve with his/her product? Was there a need for it? Do you think the product will have long-term success? Why or why not?