Entrepreneurs and SMEs that develop new ideas are the main sources of innovation in products and services in the society. However, due to the lack of required resources and know-how innovation ideas may not develop into full-fledged results. Business incubators can play an important role here. They can provide innovators with the required enabling environment, guidelines, and tools supporting the innovation process. This paper proposes an enabling agile innovation framework, which is based on using VBE and VO paradigms. The paper first defines the innovation process, and then addresses a set of tools and mechanisms that need to be utilized to facilitate the innovation process. An example case in intelligent buildings is also provided.