ABSTRACT
This chapter explores innovation in broad terms and to some extent determine what innovation may mean in different societal contexts. It describes how innovation has impacted society since the first industrial revolution. The chapter examines different meanings of innovation. It presents a case study as to how one society adapted to benefit from the evolution of innovation. Innovation plays a major role in the economic and social development of most countries and is heralded as being one of the principal tools for developing regional competitiveness and coping with major global challenges. In the 2016 version of the European Union Innovation Scoreboard, Ireland is considered to be a Strong Innovator. The Innovation Scoreboard states Ireland’s innovation performance increased until 2012. As well as the role of inward investment, through foreign direct investment, education is also an essential dimension in enhancing the absorptive capacity of regions resulting in greater levels of innovation capacity and capabilities of regions and countries.
