Abstract: In view of value, cooperative innovation network of industry-university-research institute is a value-net. So, from perspective of value-net, the network-tie among cooperation innovation main bodies is analyzed, some characteristics of cooperative innovation networks of industry-university-research institute are studied; and with these characteristics, how to cultivate dynamic innovation capabilities of cooperative innovation networks of industry-university-research institute is investigated from perspectives of network organization dynamic innovation capability dimensions, withdrawal channel of cooperation innovation main body, environmental supervision capability, learning mechanism, ability to coordination and coupling.