In economic terms, innovation is not a consequence of the research process. I know that many people do not agree with this assumption, but every day there are many economists that consider obsolete the lineal model of innovation, from research to product innovation.
I think about innovation as a survival procedure that exists in every community. Innovation is a process to evolve, and in economy, innovation is a way that has been found by organizations to get an adequate positioning in the market. Innovation depends on the market laws, and it is a whole process, from technological progress to growth.
Innovation is a consequence of the competitiveness; monopolies produce less innovation than markets in competition although they can dedicate a bigger budget to research and development. A magnificent technology loses its value if a patent is kept hidden in a drawer. Of course, RDT produces differentiation, functional improvements and other things that yield a sharp increase of the value, but a good product must be commercialized in the best possible way.
RDT is not the only way to generate differentiation, other aspects as the design can produce that effect and a marketing strategy too. Marketing cannot produce functional improvements, but can teach new uses of a product, and this issue can be perceived as an innovation in the market.
RDT is the basement of the innovation process but to take advantage of the technology a lot of other things must be done.