Using indexes of risk propensity and network embeddedness,this paper explores the game between "I" self-cognition and "me" self-cognition of entrepreneurs and the correlative mechanism of ambidextrous innovation from a micro cognitive perspective. It confirms that entrepreneur risk propensity can promote the implementation of exploratory innovation and exploitative innovation and advance the realization of ambidextrous innovation,which is based on the game between "I" self-cognition and "me" self-cognition. The game not only reflects the contention for cognitive resources,but also is embodied by the positive advancement role of "me" self-cognition of entrepreneurs in the correlation between "I" self-cognition and ambidextrous innovation. This paper provides a unique analytical framework in ambidextrous innovation field through the reveal of micro cognition mechanism of ambidextrous innovation.