Innovation has been central to development. Yet most assumptions around innovation stem from values derived by capitalist economies such as growth, individualism, and competition which prove to only widen inequalities and promote unsustainable environmental models of extraction and consumption. This paper explores what values and assumptions would underlie innovation in development if based on an alternative ontological and epistemological stance linked to the Andean cosmovision of Buen Vivir. We focus on the case of an Indigenous-led initiative in the Andes of Peru to highlight the underpinnings of its innovation processes. In doing so, we aim to contribute to both development studies literature and innovation studies by exposing the limitations to the accepted Western approach to innovation and exploring what decolonising innovation in development would look like.