This chapter accounts for an emerging logic underpinning the governance of innovation at the level of socio-technological regimes facing expectations and promises for emerging industries. Beyond the scientific literature on management of R&D resources, IP rights and core competences, we question the governance of innovation when it consists in managing the dual expansion of expectations (value landscape, creation of new visions and new interests, etc.) and the realisation of those expectations in organisational arrangements at the niche level. This chapter shows that generative expectation management is clearly based on innovative design activities, i.e. on the capacity to create and refine many possible futures within research processes and socio-technical arrangements. It suggests that efficient generative expectation management would benefit from tools and processes able to support innovative design processes.