This qualitative study examines how tacit knowledge is obtained and developed by entrepreneurs in the field of ICT, information and communication technology (ICT) and what is the importance and contribution of tacit knowledge to entrepreneurs in steering their businesses to a level that they can be proud of This study found that the tacit knowledge acquired by entrepreneurs is very critical knowledge and is indeed needed by any entrepreneur, but the very subjective and hidden nature of tacit knowledge causes it to be often ignored and not documented. This study uses 15 samples of SME ICT entrepreneurs who have in-depth experience in navigating the industry from scratch. A semi-structured interview approach was used in this study to better understand how these entrepreneurs build their tacit knowledge, either consciously or otherwise. The findings of the study show that ICT entrepreneurs form their knowledge through three (3) main sources, namely continuous career development, professional experience in work, different job transitions that allow learning from different perspectives and also form their own expertise from the market, industry and technology analysis process. This study concludes that tacit knowledge is very important for ICT entrepreneurs to help them strategically plan to ensure their innovation capabilities and business sustainability. This study further recommends entrepreneurs to invest in developing the potential of tacit knowledge as an important asset for entrepreneurs themselves to maintain performance momentum and maintain competitive advantage in this dynamic and challenging sector.