Abstract: Disclosed are a method, system and computer software tool for capturing innovation. The software tool comprises means for entering an innovation into a database, and a system for evaluating said innovation. The software tool further comprises means for completing a business plan for implementing said innovation, and means for mapping said innovation to specific customer pain points. The preferred embodiment of the invention allows for a highly efficient tracking and management of innovation ideas. It does this by using a number of features. including workflow functionality to efficiently process, manage, and evaluate innovation ideas. The preferred embodiment also allows for innovation ideas to be managed in a lifecycle model, with different requirements by lifecycle stage.