Because of the competitive disadvantages, the new ventures can hardly gain any superiority in the market. Aiming at new ventures features through theoretical analysis and case analysis, the knowledge, ability and the strategy are the three key factors to influence the new ventures competitive advantages. The new ventures should base on the study of general process of the knowledge management, capabilities evolution and strategic competition in dynamic environment. Through the market knowledge and products knowledge absorption integration, transformation and application, creating updated accumulation of experience, these knowledge evolution for enterprise’s foundation ability and dynamic capabilities will upgrade. In the competition process, devastating intangible microscopic ability into concrete dynamic competition strategic actions has a direct role in promoting competitive advantage for enterprise.