This paper introduces an alternative approach to innovation: Emergent Innovation. As opposed to radical innovation Emergent Innovation finds a balance and integrates the demand both for radically new knowledge and at the same time for an organic development from within the organization. From a knowledge management perspective one can boil down this problem to the question of how to cope with the new and with profound change in knowledge. This question will be dealt with in the first part of the paper. As an implication the alternative approach of Emergent Innovation will be presented in the second part: this approach looks at innovation as a socio-epistemological process of “learning from the future”. Keywords: Innovation, radical innovation, emergent innovation, knowledge creation, change.