"The peripheral condition of Latin America has changed but persists in spite of a long decade of favorable economic conditions and heterodox policies. A renewed conceptualization of underdevelopment and of Innovation Systems is needed. Here it is connected with Sustainable Human Development, with the dynamics of power and with the transformative change framework. The ‘triangle paper’ is a main guide. Special attention is given to innovation heuristics forged in the South. If combined with advanced knowledge and high qualifications, they may contribute worldwide to the urgent transitions to less inequality and higher sustainability. Some elements for a related research agenda are sketched."