In this chapter, I will focus on my trajectory of research on innovation and industry evolution in the spirit of Schumpeter and evolutionary theory. I am convinced that there is a very important level of analysis of the economy—the meso level—that needs to be explored and analyzed in depth. Different sectors drive the long-term evolution of the economies at different times, sectors are greatly affected by innovation in different ways, and major differences exist across sectors in terms of knowledge base, technologies, structure, systemic features, institutions, and evolution. In this chapter, I will first introduce the Schumpeterian themes and the evolutionary framework that have guided my research over the years. Then I will discuss the different patterns and industrial structures that characterize innovation in sectors and the technological context that determines them. Then I will move to innovation by demand and entry by users, a topic rather neglected by Schumpeter. I will then focus on sectoral systems. Finally, I will discuss the evolution of industries in terms of sectoral systems and the catch-up process by emerging countries. Some brief conclusions will end the chapter.