The field of medical innovation covers the creation and implementation of new ideas, technologies, and processes that focus on improving patient outcomes, healthcare delivery, and system efficacy. This chapter introduces a multidimensional framework for innovation in medicine, focusing on the clinical, technological, and entrepreneurial branches. This chapter outlines the stages of clinical innovation and examines key drivers for unmet clinical needs. This chapter also highlights the role of diverse stakeholders in driving innovation with a focus on ethical, economic, and regulatory restrictions. Finally, this chapter discusses the impact that innovation has on medical education and how the integration of innovation in medical education can help prepare healthcare professionals to navigate and lead the next era of transformative medicine.