EU needs an effective exit strategy from crisis: to this end innovation is a key issue for the EU industrial system. Innovation is a complex issue, requiring both special expertise and a large amount of knowledge. I.e., domain knowledge (on the industry sector) but also knowledge on technology, business models, finances, markets, etc. Innovation is not an easily job for a single enterprise, then really a challenge for a networked virtual enterprise. The BIVEE project intends to develop a rich framework, i.e., a software environment that includes business principles, models, and best practices, to promote innovation in virtual enterprise environments. Effective innovation needs to be aware of what is going on inside the VE, at the production level, and at the same time outside it, where a plethora of elements move fast and often unexpectedly (i.e., markets, technology, finances, competitors, etc.). In BIVEE we introduced the notions of Value Production and Business Innovation space that shape the BIVEE framework, including the knowledge repository that collects all the required elements, inside and outside the VE. The knowledge repository is the key asset of the Mission Control Room, that monitors and manages the VE production, and the Virtual Innovation Factory that produces innovation and manages its introduction in the VE. The workplan of BIVEE emphasizes the impact achievement. To this end it has been based on two different trial applications (in furniture and high tech equipments, respectively), both organised in two major trial phases: Phase1 for monitoring the course of production before the introduction of BIVEE environment and Phase2 where the VE achievements are assessed having the BIVEE environment in place. The two trial cases are quite different, to prove the flexibility and adoptability of BIVEE. To achieve the objective goals we organised a strong industry-driven consortium, having 7 industrial and 2 research partners.