Innovation has become an imperative in driving and sustaining businesses in today’s hypercompetitive environment characterized by complex market structures, shorter product life cycles, and the ubiquity of digital technology solutions. A corollary to this is the expected increase in demand for innovation champions and leaders competent to lead and manage industry innovation projects. Academic institutions are relied upon to educate future entrepreneurs and managers not only on the intricacies of innovation, but also on the managerial processes involved in the conduct of innovation projects. This paper investigates the currency of forty (40) undergraduate business and management programs among eight (8) higher educational institutions (HEIs) in Cebu City, Philippines, on whether the course “management of innovation” had already been included in their programs’ curricula. The curriculum prospectus data of the business programs were accessed from the HEIs’ available documents and websites, if available. Using the innovation management process framework of Morris (2011), the content analysis revealed the absence of a stand-alone course on “management of innovation,” or its equivalents. The study concludes the pressing need for HEIs to revitalize their programs, cognizant of the responsibility of business and management education to prepare students to the management of innovation. The study recommends to policymakers and HEIs some modes to mainstream and integrate the “management of innovation” in business and management programs to ensure relevance and responsiveness to industry requirements.