This paper aims to analyse the determinants of innovation capacity in medium-sized firms. It analyses the following factors: culture of participative leadership, work climate and well-being, ideation and organization structures, development of know-how, exploitation of external knowledge, regeneration and individual activity. The approach of this study is descriptive quantitative field and not experimental. The project used a data collection questionnaire with 21 items, to a sample of medium-sized companies in Valledupar, Colombia. The results indicate that the determinants of innovation capacity are present in the companies analysed in the study. Additionally, the ANOVA results show that there are significant differences between the culture factor and participative leadership, with the factor of regeneration. Likewise, there are differences between the exploitation of external knowledge and working climate and well-being, ideation and organizational structures, development of know-how, regeneration and individual activity.