The essence of enterprise innovation lies on knowledge innovation and the basis of knowledge innovation is knowledge resources and diversity possessed by enterprise. It is the key for knowledge innovation to obtain external knowledge and excavate implicit knowledge, and knowledge collaboration is the core mechanism for knowledge innovation. With the characteristics of platform, knowledge capital and knowledge collaboration, Web 2.0 application will promote enterprise’s capability to obtain external knowledge and excavate implicit knowledge so as to essentially promote the integration ability of external and internal knowledge resources and realize knowledge innovation by knowledge collaboration.