Innovation is one of the five drivers of productivity growth alongside skills, investment, enterprise and competition (DTI, 2007, p. iii.). It is a widely used term but still a concept hard to grasp. A number of different definitions of innovation, more than 60 found by some authors are a proof of this (Brooker and Joppe, 2012). A common thread among all of them is the aspect of “newness” (Johannessen et al., 2001).