This paper focuses on the relationship between the Organizational Memory (OM) and Organizational Innovation (OI) practices of Software Developers. This industry is meaningful for the economy and has significant transversality of performance; at the same time, it is highly dynamic and inventive. These traits corroborate our research choice around OM practices, since they help understand the makings of innovative environments. Based on extant research and validated reference models, we analyze practices and actions used by companies for the creation of a favorable environment that is conducive to OI. A group of software development companies operating in the southern region of Brazil was selected from the Brazilian Association of Software Companies (ABES), Association of Technology Companies of Santa Catarina (ACATE), Association of Brazilian Information Technology Companies of Paraná (ASSESPRO-PR) and Union of Information Technology Companies (SEPRORGS) organization database, using a non-probabilistic sample, due to the explicit desire and availability to participate in the study. Under the conceptual model, statistical analysis led us to the conclusion that there is a significant relationship between the OM functions and their influence in the innovative corporate environments. As firms become more mature and reach market consolidation, the model indicates that the OM retention function becomes increasingly more important, leading to an environment that is more efficient regarding innovativity.