This report explores the concepts of invention and innovation, highlighting their significance for modern organizations. It delves into the various sources of innovation, analyzing the role of organizational vision, leadership, culture, and teamwork in fostering innovation and commercialization. The report examines the 4Ps of innovation, the innovation funnel, and frugal innovation, applying these concepts to the context of Essence Drinks. It further discusses the commercial funnel and New Product Development (NPD) as tools for commercializing innovative drinks. The report also explores funding options for Essence Drinks and evaluates the nature of innovation and the challenges faced in developing successful innovations. Finally, it examines methods for measuring the effectiveness of a business case.