Abstract This paper uses the concepts of means of innovation and modes of innovation to introduce an alternative approach to the understanding of the evolution of the South African system of innovation. Modes of innovation are defined in terms of ownership and control patterns of the means of innovation, as well as the role played by human capital. The relationship between ideology and modes of innovation is briefly examined. This paper lays the basis for an alternative approach to the analysis of the transition of South Africa’s economic structure from apartheid to democracy and of the rifts and continuities in that transition.