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This whitepaper discusses a Model-Driven Innovation process, an approach that makes a multidomain, system-level model the core of design activities, allowing engineers to see how individual subsystems work together. With this approach, problems can be fixed early without project delays, and designs can be validated with access to the underlying mathematics, allowing organizations seeking to mitigate system complexities to improve their ability to control costs, produce high-quality designs and move products to market more quickly. Using tools like MapleSim, the multidomain system modeling tool from Maplesoft, enables engineers to develop and test high-fidelity virtual prototypes of their complex dynamic systems.