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Summary form only given. Information systems and their application play a major role in today's businesses. Besides the introduction of new technologies to streamline processes within companies, electronic commerce has become a major trend. Supply chain technologies, service outsourcing and real-time business process are some of the basic capabilities that businesses must have. For many businesses, innovation has become the key driving force behind the business and, in fact, the most important factor on deciding business values. Last year's Google IPO (market cap: $55B, higher than General Motors) has started a new round of technology value discussion. In this presentation, we have studied the innovative value of Internet related technologies, including Web, e-commerce, Web services and pervasive computing. Various innovation approaches and factors were presented, and their values discussed.