Defining IP, key features

    Innovation is the process of translating an idea or invention into a good or service that creates value and results.

    Innovation vs Research

    • Research is about gaining knowledge
    • Innovation translates knowledge into usable goods and services and is targeted on what CA want to achieve.

    Innovation Procurement (IP) means undertake procurement procedure in a way that stimulates the supply chain to invest in developing better and in more innovative goods and services to meet the unmet needs of a public body.

    The aim of IP is to enable public bodies to have the goods and services that fulfil their unmet needs, when they need them at a price that reflects the value that the organisation and the society places on them.

Innovation procurement encompasses both the buying of the process of innovation – with partial outcomes – and/or the buying of the outcomes of innovation created by others

Commission Notice on Guidance on Inovation Procurement, 2018.

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