Innovation is the introduction of something new like new idea, new method or new device:novelty. Innovation is also about exploiting new ideas leading to thr creation of a new product, process or service.
Novelty is occurrence or new thing, newness.
Futuristic is ultra modern.
Difference between Innovation and Novelty
Innovation is always expressed by better technological solution accepted by society whereas novelty is just a consequence of innovations' practical implementation.
Difference between Innovation and Invention
Innovation differes from invention as innovation result in novel idea or method whereas invention refers more directly to the creation of the idea or method itself.
If the invention improves some product, process or service for the public, then the invention transforms into an innovation. Otherwise, an invention is useful only to the inventor unless it is offered to the public, but niche that public maybe.
The type, industry and style of innovation are irrelevant, an innovation's impact determines its qualification. Therefore, it does not matter that an innovation is big or small, brand new or just a bit different. It can be clearly complex or seemingly simple. Besides, innovations are often thought of in terms of technical achievement, but can also be a design.
Refference:
http://tutor2u.net/business/production/invention-and-innovation.htm
http://www.realinnovation.com/content/what_is_innovation.asp
