This chapter explores the concept of Innovation 5.0, examining its consequences and implementations within the context of Industry 5.0. We focus on four key perspectives: technology integration, societal well-being, organizational adaptability, and sustainability. Through a combined literature review and content analysis, we provide an overview of past industrial revolutions and the subsequent evolution of innovation paradigms. This analysis culminates in the emergence of Innovation 5.0, characterized by a shift toward an innovation process that prioritizes human well-being, sustainability, and resilience. The chapter contextualizes Innovation 5.0 through the sextuple helix model. This model expands upon the conventional triple helix model by integrating civil society, environment, and media and ICT, fostering a comprehensive approach to addressing contemporary challenges. This framework emphasizes a human-centric perspective focusing on sustainability and adaptability, and encourages collaboration among multiple sectors within the context of Industry 5.0.