; and (B) the Committee on Foreign Relations and the Committee on Appropriations of the Senate. (3) Chief Innovation Officer The term Chief Innovation Officer means the Chief Innovation Officer established by section 4(a). (4) Cost-effective; cost-effectiveness The terms cost-effective and cost-effectiveness , with respect to a process, technology, policy, or service, means the process, technology, policy, or service produces more impact, such as in terms of benefit or value, for the same cost or produces the same impact for a lower cost as compared to another process, technology, policy, or service. (5) Innovation The term innovation means the development and implementation of new processes, technologies, policies, or services that provide a greater impact or are more cost-effective than current practice. (6) Innovation Incentive Award The term Innovation Incentive Award means an award provided under section 5(a) under which funding is provided on a competitive basis that— (A) encourages and rewards the development of solutions for a particular, well-defined problem relating to the alleviation of poverty or other development priority; (B) helps identify and promote a broad range of ideas and practices, facilitating further development of an idea or practice by third parties, relating to the alleviation of poverty or other development priority