The aim of this study is to build and validate a model that relates the dynamic capabilities of knowledge management and product development in the context of innovation ecosystems. Brazilian agtechs were used to carry out the research. The data was collected using questionnaires and then analyzed using structural equation modeling. The results showed that the maturity of the innovation ecosystem affects the dynamic capabilities of Knowledge Management (KM). In addition, the results showed that strong partnership connections in the ecosystem, as well as non-redundant and valuable knowledge, help to build agtechs’ dynamic capabilities of KM. It also emerged that entrepreneurial protagonism, i.e. the commitment of agtech leaders to capturing, integrating, applying and protecting the flows of knowledge present in the ecosystem, boosts the development of new products.