The future belongs to the knowledge-based economies. A country’s growth potential will be increasingly dependent on the knowledge potential and management of the knowledge processes by the same. As the globe gears toward a circular economy, the aspects of sustainability and innovation become very crucial. The need of the hour is to focus on intellectual capital (IC) as a key driver of the knowledgebased economy. In an economy, the focus should be on creating and developing knowledge intensive industries. The method is to prioritize the boosting of IC and enhance value creation in the economy. The correct emphasis on knowledge management (KM) in an economy can be leveraged through boosting IC. This will lead to a more sustainable and innovative nation moving toward a circular economy. For any organization to ensure sustainable competitive advantage it is imperative to weave KM in its human resource initiatives. Investing in KM is a long-term strategy. Technology plays a crucial role in this whole process. KM technologies are information technologies that can be used to facilitate KM. The aim of this chapter is to identify the value creation process while providing suggestions for strategic interventions for a fruitful relation between an organization’s employees, suppliers, customers, and other stakeholders. This process needs interlinking of technology with the human resource processes. This chapter is divided into three main parts. The first part focuses on defining and explaining types of KM wherein the importance of KM systems is detailed. The second part deals with describing IC, its significance and basic components. The third and most important part deals with the relationship between KM and IC and suggests strategies for boosting IC. As the tertiary sector becomes more and more important and Technology 4.0 becomes the key driver of every growth activity, knowledge acquisition and KM will be the game changers.