This chapter provides an overview of major challenges and open questions in the field of innovation research. Eight areas of enquiry are identified that each correspond with one of the parts of the edited volume. The chapter begins by discussing the notion of innovation as a concept and then highlights the interrelationship between innovation and institutions, as well as the interdependence of innovation and creativity. This is followed by three parts that target innovation as a social process: innovation, networking and communities; innovation in permanent spatial settings; and innovation in temporary and virtual settings. Finally, the relationships between innovation, entrepreneurship and market making and wider issues regarding the governance and management of innovation are discussed, followed by some remarks about the unique characteristics of the edited volume.