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Innovation platforms (IPs) appear to be one of the most appropriate tools to operationalize research for development. Increasingly, agricultural research initiatives for development set up innovation platforms to facilitate the management and support of innovation processes. Yet, the mechanisms by which they operate are not well understood. This paper seeks to open the "black-box" and proposes a framework to analyze processes that occur in innovation platforms from inception to maturity. Firstly, we use a New Institutional Economics (NIE) based analytical framework for the M&E of IP performance. Secondly, from a review of the literature, we identify three ways through which research could be done within IPs: 1) soft transfer, when research has readily available results that could help solve jointly identified problems; 2) co-creation, when researchers and IP members develop research objectives and protocols together; and 3) community-based research, when IP members set up experiments on their own. We propose that both frameworks should be used to improve the monitoring of IP dynamics.