in·no·va·tion noun [̗inə'vāSH(ə)n/] 1. Process of translating an idea or invention into a good or service that creates value. 2. Deliberate application of information, imagination and initiative in deriving greater or different values from resources. 3. Helps create new methods for alliance creation and joint venturing. 4. Often disruptive and new. Student housing rendering for Georgia State University Congratulations to the University System of Georgia for introducing a truly innovative partnership approach that prioritizes the needs of today's and tomorrow's students.