Abstract: The research aims to determine the effects of human, structural, and relational capital on entrepreneurship and innovation in the software development industry in an emerging country, Colombia. The sample consisted of 310 surveys of software development in micro and small companies from Colombia. The data were analysed using a structural equation model. Among the results found is the positive influence of structural and relational capital on human capital and the positive influence of human, structural and relational capital on entrepreneurship and innovation capital in micro and small companies of software development in Colombia. The value of this research lies in the relationship of the main identified elements: human, structural, relational, entrepreneurship and innovation capital, reducing the gap between the theoretical model of Knowledge Spillover Theory of Entrepreneurship and empirical model of Intellectus.