Portugal has an active population with low levels of education, a specialized manufacturing pattern based on traditional sectors and firms of small and very small size. These characteristics have a strong impact on the improvement of innovations and on the university-industry relations which have to be understood differently from the developed countries. This article intends to know what are the basic conditions for firms be innovative, in this very specific context, what type of innovations are they able to produce and what are the circumstances in which they can develop advantageous relations with the academic world. We conclude that the basic condition for these to happen is a certain accumulation of knowledge inside firms. An increasing in the accumulation of this knowledge goes hand in hand with the improvement of innovations and with the integration capacity of firms in the innovation space, notion which is proposed in alternative to the one of innovation system.Manufacturing based corporations often find themselves confronted with complexities of increased pressures to innovate in order to ensure their comparative market positions. In order to react to various exogenous changes corporations need to develop strategies that match their manufacturing resources as well as products with the markets requirements. Technology scenarios represent a holistic approach for managing innovation processes and technologies efficiently. A multidimensional requirement catalogue for specific product- market- combinations represents the fundamental building block for the ranking of particular material- components and technologies. The following analysis through evolutionary algorithms for compatibility between and amongst them provides the necessary information about their suitability. The resulting scenarios and roadmap and a regular monitoring process are prerequisite for the managerial decision making process and the implementation technology strategies.Manufacturing based corporations often find themselves confronted with complexities of increased pressures to innovate in order to ensure their comparative market positions. In order to react to various exogenous changes corporations need to develop strategies that match their manufacturing resources as well as products with the markets requirements. Technology scenarios represent a holistic approach for managing innovation processes and technologies efficiently. A multidimensional requirement catalogue for specific product- market- combinations represents the fundamental building block for the ranking of particular material- components and technologies. The following analysis through evolutionary algorithms for compatibility between and amongst them provides the necessary information about their suitability. The resulting scenarios and roadmap and a regular monitoring process are prerequisite for the managerial decision making process and the implementation technology strategies.