An innovation literally brings something new inside a given environment, which means innovation shouldn't be considered without taking into account its impacts on the said environment, the time factor, the very process of "bringing".
Innovation can be immaterial, like a new way of considering that environment, even using the same old tools (ie your eyes and brain). Sign' o the times : I noted that in today's vocabulary, "progress" turned somehow negative (a colateral damage of the end of the myth of eternal progress during last century) while "innovation" became the new fave. As a matter of fact, innovation is not necessarily positive - the "novation" doesn't necessarily mean "one step forward" like in "progress". Who knows when this beautiful world will fall out of fashion...
(answer to the question "how would you define innovation ?")