1. Innovation is the application of new ideas, concepts, technologies or business models to create new or improve existing products, services or processes. It involves coming up with creative solutions to challenges faced by companies. 2. Some examples of innovative companies discussed include startups that have found new ways to differentiate themselves in the market and disrupt existing industries. Established companies are also innovating by launching new products and services or improving their offerings. 3. For companies to innovate successfully, they must invest in research and development, encourage experimentation and take risks. Innovation requires thinking outside the box, selecting ideas to develop further, and implementing innovations through marketing and communication

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