Research directions for business model innovation in technological startups

Abstract

In today’s business world, startups face many challenges that are important to overcome in order to maintain a successful position in the marketplace. Because, the modern business world is constantly changing and competition does not stop growing, startups are forced to look for innovative solutions. Business model innovation is one of the most important tools for a company to compete successfully and create economic value. In management theory, business model innovations are widely analyzed, but there is a great lack of empirical research to determine which business model innovations are most suitable for a startup, depending on its activities, product, and customers. This paper presents an overview of the theoretical research of business model innovation in order to identify the directions of possible empirical research that would allow to evaluate the peculiarities of the application of startup business model innovation subscription, freemium and pay per use.