This book discusses innovation and invention. It introduces innovation, the innovation eco-system needed in company to succeed in innovation, the need for innovation and its timing with respect to the product life cycle. It shows how to develop innovation strategy  and get ready for product development, the management of innovation processes from the concept phase to commercialization and supplies practical tools and techniques for achieving success in complex, fast-track technology development projects. In today world of fast-paced innovation from all corners of the world, technology is getting obsolete much faster than it was 50 years ago. In order to match the fast-evolving market demand and evolution of technology, one needs to innovate much faster. The whole process of developing technology/product/services from concept phase to prototyping to series production and commercialization has to happen in a very structured way so that the process is not only fast-track and lean but also very efficient.  The methodology presented in the book has been applied in many real-life projects. The book will be of interest to professionals in business and technology as well as students.