Innovation Engineering is the application of engineering principles and processes to innovation. It takes a systematic approach to understanding needs, designing, implementing, validating, and evolving innovations. Innovation Engineering deals with innovations that are complex, involve multiple people and versions, and exist for many years. It was developed from disciplines like product, systems, and software engineering. Innovation Engineering aims to reduce failures, increase productivity, and improve outcomes like budgets, costs, deliveries, and satisfaction for customers, innovators, employees, and investors. It can be applied to various areas of innovation including business, products, services, technologies, and social or political innovations.