Innovation is creating something new and different that creates impact.

Entrepreneurship is taking risks to start a company to generate profit.

Innovating doesn't require you to start a company. It could be a product, service or process.

Starting a company doesn't require you to be innovative. It could just be another restaurant.

However, they are mutually inclusive.

When this happens, you are building an innovative company that reinvented existing or created a new market.

You can innovate first, then build a company around the innovation.

Or you can build a company, and get the cash to innovate.

Innovation and entrepreneurship are two sides of the same coin.