Innovation and new ideas are the lifeblood of good business

"Innovate or die" is a mantra that many founders follow, lest their product or service stagnates and leaves them behind the competition. But transformation isn't cheap and cash-strapped small firms can't afford dedicated teams and state-of-the-art labs.

Anthony Eskinazi believes that innovation can be fostered without breaking the bank – and it starts with a company's culture and team. "We have an environment where ideas are ­encouraged," says the founder of JustPark, an app that connects drivers with parking spaces.

Read more at The Telegraph.