The Dynamics of Business Model Innovation for Technology Entrepreneurship: A Systematic Review and Future Avenue

Technology entrepreneurship involves creating sustainable value through capitalization and commercialization of innovative new technology, accelerates the growth of firms, and helps in promoting the sustainability of the economy. However, the literature on the business model innovation (BMI) for technology entrepreneurship has no clarity yet. Therefore, this article aims to build a business model innovation for technology entrepreneurship (BMIfTE) toward economic sustainability. To meet this aim, various publications on the subject matter have been reviewed and synthesized and I compared the logic and arguments of various scholars to draw conclusions and develop BMIfTE. The article structures the BMI for technology entrepreneurship as obtained through experimentation, generating, renewing, designing, changing, and implementation, backed by inputs such as value migration, opportunity and risk assessment, dynamic capability, stakeholders networking, firms' strategies, and institutional ontology that contribute to sustainable economic development. In this sense, the BMI improves the current delivery system by creating a new offering system, which leads to a reconfiguration of the model by integrating with the technological ecosystem's capabilities in creating and exploiting new business opportunities.