Inventions are incarnations of a new idea. Innovations are revolutionary implementations of inventions. Inventions make suggestions of grand things to come. Innovations demand change. Inventions can be appreciated for what they might become.
Innovations are amazing for what they do now.
For example, Xerox invented the graphical user interface for computers. But Apple revolutionized the market with the innovative Macintosh. Other have invented those before. However, because of its innovative implementation, FX3 has revolutionized the way I will think about mixing. FX3 is a true innovation.