This paper investigates how the microelectronic community responded to the challenges set by a very high level of knowledge complexity and a frantic pace of innovation. In particular it explores: i) the drive towards standardization of process technologies, global coordination and knowledge sharing, to go along a well defined trajectory of innovation without wasting resources; ii) the role of academic research in the applied microelectronic engineering field and the connection with industrial research; iii) the management of new knowledge by industry; iv) the division of innovative design labour and the role and limits of the growing market for design information. Overall, the various aspects of knowledge creation and distribution which characterize the field are examined