What is ICE? Innovation is the generation and realization of a new idea in the world. This means that innovation contains within it elements of both creativity and entrepreneurship. Creativity comes into play in the generation of ideas to meet a need in the world. This is based on a fundamental belief that there is more than one right answer to a given problem. Entrepreneurship is the set of activities aimed at building, scaling and sustaining the new ideas into an existing organization or creating a new one.
Innovation, creativity, and entrepreneurship (ICE) are linked. One cannot exist without the others.