When you publicize and hold up the successes of an Innovation Initiative and incentivize participation, you encourage intrepreneurship (entrepreneurship within your enterprise) and that engenders a fuller commitment by employees. Your employees with brilliant ideas will feel that there is a place they can turn for resources and development support. In addition it gives all employees confidence that their enterprise is working towards staying ahead of its competitors. In industries that have products that have not changed in years or even decades (mining) this will engender a sense of forward momentum throughout the organization.
Knowing what your business values will allow you to position your innovation initiative for success — because in the end you will get what you measure.