Innovation is too often imagined as the work of elite firms, star scientists and cutting-edge labs. Yet real transformation depends on whether societies can make innovation inclusive, whether the benefits extend beyond narrow groups to reach workers, small firms and marginalised communities. This chapter explores how inclusivity shapes not only the outcomes of innovation but also its direction. It looks at experiments in participatory foresight, grassroots initiatives and citizen engagement that challenge the top-down model of technological change. At the same time, it highlights the risks of exclusionary dynamics that concentrate power, widen inequalities, and leave many on the margins of progress. By examining both pitfalls and possibilities, the chapter argues that inclusive innovation is not a luxury but a necessity if emerging economies are to build systems that are resilient, legitimate and capable of delivering futures shared by the many, not just the few.