The "Innovation Economy" refers to an economic system that prioritizes the development and application of new ideas, technologies, and processes. This economy thrives on creativity and entrepreneurship, where businesses and individuals create unique products and services that can lead to increased productivity and growth. Key drivers include research and development, investment in technology, and a skilled workforce. In an innovation economy, collaboration between government, universities, and private companies is essential. This partnership fosters an environment where new ideas can flourish, leading to advancements in various sectors such as healthcare, information technology, and renewable energy. The focus is on sustainable growth and improving quality of life through innovative solutions.