The view of innovation as a process of searching and recombining existing knowledge elements has been adopted in several industries. The innovation management literature has recognized the fundamental role that search and recombination play in innovation development. However, the relevant research has provided complex, fragmented and mixed results. The authors aim to identify areas of convergence and provide directions for future research by collecting empirical evidence regarding how firms conduct the search and recombination process. They conducted a systematic literature review of 87 empirical articles in the innovation management field. The review reveals differences among the solutions adopted both within and across organizational boundaries. Specifically, it shows that the variety and diversity of knowledge elements are critical in creating breakthrough innovations. Therefore, this paper discusses how to provide access to a variety of knowledge elements. It also highlights other fundamental questions calling for further investigation, such as how scientific knowledge elements are successfully recombined and how recombination and search dynamics occur in small and medium‐sized firms. The review concludes by summarizing the current state of affairs and suggests promising directions for future investigation.