Technology and innovation are two closely related concepts that are often used interchangeably. However, there is a subtle difference between the two.

• 1) Technology is the application of scientific knowledge for practical purposes. It is the process of creating new products or services that use scientific knowledge.
• 2) Innovation is the process of introducing new ideas or new ways of doing things. It is the application of new knowledge or new ways of thinking to create something new.

Technology and innovation are essential for economic growth and development. They help businesses to create new products and services, which can lead to increased productivity and profits. They also help to improve the quality of life for people by providing new solutions to problems.