Talking about innovations, I would like to add what I have seen across some companies.

If a company wants to be innovative, then the senior leadership should demonstrate one important trait.

Which is, how does the management react to a failure? Does the employee involved get a rap on his/her knuckles or given another chance?

Every idea is innovative, to make it successful there is a risk involved in its implementation. If there is one instance of a knuckle rap for failure, or an employee is sidelined or a bad performance appraisal then everybody gets risk averse & there will be a stagnation in the company.

The most innovative company knows how to handle failures. Has checks & balances to minimise risk & knows how to counsel somebody on failure.

This in my opinion is a culture where innovation is nurtured.