Drawing upon the resource-based view and knowledge-based theory, this research investigated the roles of entrepreneurial social capital and knowledge structure in the process of new venture innovation. A questionnaire survey was conducted on a sample of 1000 new ventures in U.S. The analysis results show that an entrepreneur’s social capital influences their knowledge structure of new production development, and ultimately impacts new venture innovation. By incorporating the entrepreneur’s knowledge structure with their social capital in the context of new venture innovation, this research attempted to develop a theory of action which connects individual differences with social structure.