This study explores the implications of relational and structural embeddedness for new venture product innovation. We distinguish between two relationships which differ markedly in the nature of interaction and quality of knowledge transferred to represent differing levels of relational embeddedness - a venture’s marketing and knowledge alliances. The structural embeddedness of each of these relationships is examined in terms of the number of ties to partners of each type within and beyond the venture’s geographic region; and the extent to which there is diversity across geographic regions. The implication of ties to specific regions and ties across regions for new venture product innovation is argued to depend on the type of relationship considered.