There are 3 Key Performance Indicators for Innovation - Inc | The MarTech Digest | Scoop.it
What is the group learning?
It is important to evaluate teams on what new knowledge they are acquiring. It is also important for the group's learning to be focused both on what is known about the problem being solved as well as on other areas that are not obviously related to the problem on the surface. In this vein, it is valuable to make sure that the group members diverge in their expertise. 

How many ideas are being considered?
Studies of creativity make clear that quantity and quality are highly related in creative pursuits. The groups that come up with the best ideas tend to come up with the most ideas.

Is the market being evaluated?
A key source of the most important constraints on innovation problems comes from the market. A key element of innovation is doing regular evaluations of the market for the group's products and services, understanding customers' expectations and budgets, and keeping current with technical developments from other firms.