in·sti·tute:  an organization for the promotion of a cause (Merriam-Webster); to bring into use or practice; a society or organization for carrying on a particular work, as of a literary, scientific, or educational character (Dictionary.com)

in·no·va·tion:  the successful exploitation of new ideas (Department of Trade & Industry, United Kingdom); change that creates a new dimension of performance (Peter Drucker); the capability of continuously realizing a desired future state (John Kao); a creation resulting from study and experimentation (Dictionary.com)

Objectives and Outcomes 
The Institute for Innovation and Growth at Olin is the catalyst, focal point and coordinating body for all activities at Olin that lead to research in creativity and innovation. Specifically, the Institute's objectives and outcomes are to:

• Directly advance the innovation and growth of companies – by performing company-funded applied research on innovation; creating useful diagnostic tools for companies to assess their innovation capabilities and diagnose the strengths and weaknesses in their innovation programs; developing systematic approaches for companies to foster corporate cultures in which creativity and innovation flourish; and diffusing knowledge on best practices in innovation.
• Create unique and stimulating opportunities for faculty growth and development – through an ongoing, regular infusion of profound insights, ideas and knowledge on innovation that are borne out of collaborative research with business and students.
• Directly enhance students' learning experiences and outcomes with innovation – by connecting faculty, students and companies through research on innovation-related topics; providing the infrastructure for student involvement with high-priority company projects on innovation; and developing state-of-the-art teaching materials for disseminating knowledge in innovation in all our programs.
• Build leaders better equipped to be the innovators of future business – by supporting experiential activities and internships for students that will create the innovation leaders of tomorrow; and funding doctoral research to create the thought leaders of innovation research and practice of tomorrow.