The most common and most likely answer to this crossword clue is the 10 letter word INNOVATION
I've seen this crossword clue in The Daily Telegraph
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N
N
O
V
A
T
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O
N
More clues leading to the result INNOVATION
- Pub praises new product
- Hotel getting prolonged applause for introduction of fresh ideas
- Novelty pub gets plaudits
- Pub needs approval for modernisation
- Hostelry needs plaudits for introduction of something new
- Pub gets huge applause for start of something new
- New product in pub getting enthusiastic reception
- Hotel needs hand in development
- A pub with good cheer for a change
- New product from pub? Cheers!
Buddy explains!

The straight part
We know that "Novelty" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case novelty = innovation.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does INNOVATION mean?
INNOVATION noun- The act of innovating; the introduction of something new, in customs, rites, etc.
- A change effected by innovating; a change in customs
- Something new, and contrary to established customs, manners, or rites.
- A newly formed shoot, or the annually produced addition to the stems of many mosses.