Today, it is well recognized that sustainability and competitiveness of global organizations can be insured only if they concentrate on managing knowledge processes in an effective way. It is as well, commonly agreed that the most innovative companies are the one being able to take care of their intellectual assets. These organizations usually provide the right technological and social infrastructure that on one hand leverage the corporate knowledge and on the other hand allow turning ideas into innovative products and services. The paper intends to draws a link between knowledge management processes and Innovation management capability. A model of innovative capabilities based on Knowledge management initiative is presented.