This document discusses innovation in South America based on updates from the INSEAD Global Innovation Index 2011. It finds that Chile, Brazil, and Argentina are leading innovators, while Venezuela, Ecuador, Paraguay, and Bolivia lag behind. To increase innovation, the document recommends encouraging participation in crowdsourcing and open innovation events, promoting intrapreneurship within organizations, and introducing Management 2.0 approaches with less hierarchy and better communication. Both large firms and small-to-medium enterprises are taking positive steps, as are some public institutions. Overall, the document analyzes innovation trends and strategies for South America to become more innovative globally.