Organisational culture and its constitutive values stimulate, inhibit and direct innovation activities, but they remain difficult to manage. Gamification is one particularly well-suited approach to address culture-related challenges to innovation and to facilitate values-based innovation, but an overview of existing formats and proven methods, as well as design and implementation guidelines are missing. To address these gaps, we explore innovation challenges in European companies and present a state-of-the-art overview of the literature on gamification for innovation and its potentials and pitfalls for fostering innovation-supportive cultures and values-based innovation. We identify boundary conditions, requirements and design elements and trade-offs for gamification and game design from the literature. Finally, we discuss potential application areas for game-like formats and gaps for future research.