It explains the factors that contributed to the positions that Chile has achieved in international rankings of innovation and competitiveness and makes proposals to improve and dynamize the Chilean Innovation System. It states that the essential factors for its economic take off were a combination of facts, which includes a timely change towards free trade policies, creating and strengthening institutions that promote innovation, together with a responsible handling of macroeconomics, and the consolidation, though still insufficient of its National Innovation System. The paper points out the conditions that are necessary to keep a permanent innovation capacity in organizations, and supported on the concepts and methodologies of complex adaptive systems, organizational learning and cybernetics, it proposes actions to generate and improve innovation nationwide.