Academia is the worldwide group composed of professors and researchers at institutes of higher learning.Innovation in its modern meaning is "a new idea, creative thoughts, new imaginations in form of device or method".Innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs.Such innovation takes place through the provision of more-effective products, processes, services, technologies, or business models that are made available to markets, governments and society.