This report discusses the importance of innovation and commercialization in organizations, with a focus on F-Drones. It explores the comparison between innovation and inventions, the role of vision, leadership, culture, and teamwork in shaping innovation and commercialization. The report also covers the 4 P's of innovation, the concept of frugal innovation, and the utilization of the innovation funnel. Additionally, it highlights the importance of the commercial funnel and the new product development process. Case study on F-Drones included.