This report analyzes the significance of innovation for business organizations, using Essence Drink, a UK-based Mango Lassi company, as an example. It explores the impact of organizational culture, teamwork, vision, and leadership on innovation and commercialization. The report also examines the 4Ps of innovation, the innovation funnel, frugal innovation, and the commercial funnel. It concludes with a business case for Essence Drink's new flavored Lassi products and discusses ways to access funding and protect intellectual property.