This research inestigates and examines the relationship between innovation success, internal organizational factors, local cultural factors and external environmental factors in the Malaysian ICT industry. From the responses of 122 local and multinational companies operating in Malaysia, the independent variables having positive relationships with innovation success are external ecconomic environmental factors and leadership organizational factors, while independent variables having negative relationships with innovation success are collectivism local cultures and external social environmental factors. The findings also indicate that these factors do not influence the innovation on an individual basis, but they are working in unison.