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The paper begins with an elucidation of the concepts of serendipity and chance. The analysis will be conducted using three of the most famous discoveries in science and technology, namely Fleming's discovery of penicillin, Röntgen's discovery of X-rays, and Perkin's discovery of the first artificial dye. Having thus clarified the role of serendipity and chance in scientific and technological discovery, the rest of the paper is devoted to examining the implications of this important feature of discovery. The implications for the individual researcher are first examined, and then the policy implications for the funding and organization of research. It is claimed that not enough consideration is given to the importance of serendipity and chance, and that consequently the organization of research and research funding in global society is in need of quite radical changes.
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