Serendipity is widely recognised as an important feature of innovation management practice, and yet it is not yet the subject of systematic study. We analyse six cases of serendipity in innovation and identify activities which increase the likelihood of serendipity. We develop a model of serendipity in NPD. We suggest process, environment, and people as three important organizational elements of managing for serendipity during new product development. We contribute to innovation theory and show serendipity as an organisational capability in the NPD process.