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Engineers and business people are constantly challenged to bring new and affordable technology to market at an ever-faster rate. Combining Computer Aided Innovation (CAI) and Value Engineering (VE) methodologies can contribute to meeting this challenge. A specific CAI software package and methodology (TechOptimizer™) is referred to in this paper because the author is unaware of a generic counterpart. CAI correlates with the phases of a typical VE Job Plan. Unique and powerful Function Analysis, knowledge bases and reporting tools helps to integrate all Function Based Processes (VE, QFD, FMEA, DFM&A, etc.). CAI is to innovation as CAD is to design.