The basic objective of INNOVANET is to create a strategic road map towards a series of European R&D activities in investigating and developing the necessary infrastructure for increasing the scientific discovery capability and innovation velocity of corporate research institutes and public academic organizations in Europe by means of next generation knowledge resource representation and processing technologies. The study examines how organizational knowledge management can be supported in the emerging and challenging application area of innovation engineering fostering a more efficient and flexible production of scientific discovery results, i.e. innovation which is a contribution to competitive advantages of any kind of organization within their business-oriented goals. Besides studying the markets for such innovation management support technologies, the users' needs are identified in two empirical studies - a qualitative interview study and a quantitative online survey. INNOVANET investigates the state of available generic knowledge technologies and derives requirements for their further research and development from the point of view of corporate innovation management. The resulting INNOVANET infrastructure will be used by the European R&D communities to conduct research, make new scientific discoveries, share problems and ideas, and construct innovative solutions for existing and late-breaking, i.e. emerging problems. The project develops the innovation knowledge life cycle (IKLC) and its inherent knowledge value chain concepts and innovation phases model as a basis for creating and deploying middleware toolkits. These allow users to access, integrate, and apply a wide range of resources available through high-performance networks. The toolkits enable the problem-oriented sharing of scientific information, academic capacity, experimental data, and collaborative reasoning support for scientists and academic as well as engineering work groups in different locations. The INNOVANET project describes an innovative R&D support and innovation management environment for scientific and engineering professionals by means of allowing the development, organization, and integration of so-called "problem-oriented research and development chains" for planning, monitoring, and documenting scientific and engineering activities, interactions, processes, and results. Specifically, the INNOVANET project defines an advanced computational environment for R&D representation, organization, and development and for scientific knowledge and innovation engineering, construction, and management. INNOVANET results in a research agenda for development of an Innovation Engineering Environment (IEE) suitable for the performing, organization, and integration of distributed scientific R&D activities, including collaboration support within trans-European scientific R&D networks. The ultimate objective of the project is to create a strategic roadmap that will be the basis for an Integrated Project within the forthcoming FP6.