Abstract
Nowadays "innovation" is a common word that is used in policy document, corporate slogan and so on. In the current definition of "innovation" in the Oslo Manual by OECD that is used as a standardized definition for international comparison, it is unclear what is considered to be "new or significantly improved" and then the concept of innovation is likely to be under-estimated. In this paper a new definition of innovation is proposed, based on analysis of the problems in its current definition.
