Despite the dual benefits of transactive memory systems (TMSs) for individual innovative behavior and team innovation, prior literature has seldom explored these issues simultaneously. This study both explores how TMSs affects individual creative self-efficacy and innovative behavior and examines whether the TMS affects team innovation by collecting survey data from 475 individuals in 86 teams participating in two iterations of the Intelligent Ironman Creativity Contest in Taiwan. Findings suggest a multilevel mediation model in which creative self-efficacy partially mediates the relationship between TMSs and the individual’s innovative behavior. At the team level, the TMS positively affects team innovation. This paper concludes with a discussion of theoretical and practical implications.