This chapter focuses on collective social innovation at the community level and underscores the importance of community members as custodians of tradition and place. The authors illustrate their ideas by focusing on community revitalization in the outport community of Fogo Island, Newfoundland. They build a framework for collective social innovation by incorporating three core sets of ideas around place: embeddedness, community identity and community character. In doing so, the authors highlight the importance of identifying both community needs and resources to build places of inclusive innovation. As community members seek to revitalize place, it is their culture and traditions that carry the community’s character over time. The practices maintained by a community’s custodians are likely to be the ones that hold the most meaning for a community and its members. In particular, the authors focus on the custodianship of the tradition of punt boat building and how the institutionalized practice of building punts is carried over time – revived, renewed and reinvented – in its traditional form yet also translated into a new aesthetic by drawing upon embedded remnants of knowledge rooted in place.