There are several definitions. Often they are not distinguished. They are simply seen as part of the process by which knowledge is developed and transformed into business value.
Creativity is about divergent thinking.
Innovation is about convergent thinking. Creativity is about the generation of ideas and innovation is about putting them into action. This requires the application of existing knowledge and the development of appropriate new knowledge. Coming up with new ideas is the food of innovation. Innovation is a far tougher proposition than creativity.