The engineering culture of a company is hugely influential in the kind and quantity of innovation it produces, along with other factors such as quality of code, speed of idea to production, feedback loop, etc.

Here are some great videos of Spotify's engineering culture and their current journey.

https://labs.spotify.com/2014/03/27/spotify-engineering-culture-part-1/

https://labs.spotify.com/2014/09/20/spotify-engineering-culture-part-2/

Also, check out the first answer to "What makes a good engineering culture?" on quora. Edmond Lau gives deep and comprehensive answer.

http://www.quora.com/What-makes-a-good-engineering-culture