This report discusses the concept and importance of innovation, 4P's of innovation, commercialisation, usage of frugal innovation, and innovation funnel in the context of Megaro Hotel. It explores the role of culture, vision, leadership, and teamwork in shaping innovation and commercialisation. The report also highlights different tools for developing, retaining, and protecting knowledge and intellectual property. The subject is Innovation and Commercialisation, and the document type is a report.