This report discusses the importance of innovation and commercialisation in Hyundai, including different types of innovation, the 4Ps of innovation, frugal innovation, and the commercial funnel. It also explores the application of New Product Development (NPD) processing for commercialisation of innovation. The report covers the organisational vision, leadership, culture, and teamwork in shaping innovation and commercialisation, and ways to safeguard company's innovational aspects.