73

As the business model approach gains empirical and theoretical ground, it is worth analyzing the vision of the innovation process it conveys. Does the business model literature challenge the linear model of innovation? Does it contribute to a better understanding of current innovation processes? In this paper, we show that the linear model of innovation does not require any explicit reflection on the business model and supports a narrow conception of the innovation process. However, new insight is provided by Chesbrough within the framework of the open innovation paradigm. The business model literature appropriates Chesbrough’s legacy in an ambiguous way but nevertheless contributes to better conceiving the role of science, technology, and their relationships with business models in value creating innovation processes.JEL codes: O30, M21