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Acknowledging that a diverse workforce could be a potential source of innovation, the current research deals with the fine details of why diversity management is central to achieving innovation in heterogeneous research groups and how this could be effectively realized in an organization. The types of heterogeneities addressed mainly include gender, qualification, academic discipline and intercultural perspectives. The type of organization being dealt with in this work is a complex association of research institutes at a technical university in Germany (RWTH Aachen University), namely a 'Cluster of Excellence', whereby several institutes of the university work collaboratively in different sub-projects. The 'Cluster of Excellence' is a part of the 'Excellence Initiative' of the German federal and state governments German Research Foundation (DFG) and German Council of Science and Humanities, with the ultimate aim of promoting cutting-edge research. To support interdisciplinary collaboration and thus the performance of the cluster, the development of a diversity and innovation management concept is presently in the conceptual phase and will be described in the frame of this paper. The 3-S-Diversity Model, composed of the three elements: skills, structure and strategy, serves as a basis for the development of the concept. The proposed concept consists of six phases; the first two phases lay the ground work by developing an understanding of the status quo on the forms of diversity in the Cluster of Excellence, the type of organizational structure of the member institutes and the varieties of specialist work cultures of the same. The third and the fourth phases build up on this foundation by means of qualitative and quantitative studies. While the third phase deals with the sensitization of the management level to the close connection between diversity and innovation; the need to manage them thereafter and find tailor-made methods of doing so, the fourth phase shall mainly focus on the mindset of the employees in this regard. The fifth phase shall consolidate the learnings and the ideas developed in the course of the first four phases into an implementable strategy. The ultimate phase shall be the implementation of this concept in the Cluster. The first three phases have been accomplished successfully and the preliminary results are already available.