Innovation: the development of new ideas, products or technology which could result in products or services. Scientific discoveries and inventions: these include the development of new knowledge and technology as a result of scientific investigation and research. Research and development (R&D): creative work systematically undertaken to increase our wealth of knowledge, including knowledge of the world we live in, of humanity, culture and society, and the use of this wealth for the invention of new applications. Technology: the practical application of scientific knowledge, especially in a particular area, such as engineering or agriculture.