Given the absence of a well-established conceptual definition for original business model innovation, the theories of original innovation and business model innovation serve as important foundations for this research. Previous studies have defined original innovation as the proposal of unprecedented discoveries, inventions, or innovative outcomes through research [5]. This concept is commonly applied in the fields of fundamental research and technological innovation, representing the highest level of transformative requirements within autonomous innovation models. It typically involves a qualitative leap based on original accumulation and entails complex evolutionary mechanisms [6,7]. Generally, original innovation exhibits four characteristics: first, it addresses problems for which there are no previous references or precedents; second, it introduces original breakthroughs in terms of content or methodology [8,9]; third, it establishes a new innovation cycle or triggers a new wave of innovation, rather than merely extending the existing innovation cycle [10]; and fourth, the innovation process exhibits strong dynamism and unpredictability [11].

Business model innovation can be understood from three perspectives: content, structure, and context. From a content perspective, business model innovation can be defined as changes in the core elements of a business model [12]. From a structure perspective, business model innovation is reflected in the optimized configuration of various elements, forming a new structural system [13]. From a context perspective, business model innovation is the process of exploring or developing potential customer needs, creating and implementing a completely new value proposition that is recognized by the market, within the environmental background [14,15]. Based on the degree of innovation, business model innovation can be categorized as incremental innovation and disruptive innovation [16]. While original business model innovation shares some similarities with disruptive business model innovation, it may not have the same level of impact as disruptive innovation.

To determine whether a business model innovation is an original business model innovation, researchers have identified the characteristics of original business model innovation. These characteristics include the following: Firstly, the business model addresses a completely new problem or satisfies a completely new pain point and demand, resulting in a unique value proposition. Secondly, the method of realizing the value proposition is applied for the first time in that field. Thirdly, it has the potential to trigger a wave of business model innovations, which can be manifested in the pursuit of capital or imitation by followers [17]. Fourthly, the process of original business model innovation is dynamic and unpredictable. The first two characteristics can be combined into one criterion: novelty, which is reflected in the breakthrough innovation in value proposition and its implementation. The third characteristic can be understood as sustainability, which signifies the success and widespread acceptance of original business model innovation, ultimately leading to achieving a breakthrough in original business model innovation. The fourth characteristic indicates that original business model innovation is influenced by multiple factors and requires exploration of key elements in the implementation process.

The study employs novelty and sustainability as criteria to judge whether a business model belongs to original business model innovation, as depicted in Figure 1. The four quadrants of Figure 1 represent different types of business models. Those that lack novelty or sustainability belong to outdated, eliminated, or no longer applicable business models. Those that exhibit novelty but lack sustainability are still in the conceptual stage of original innovation, not yet validated or proven to be feasible business model prototypes. Business models that demonstrate sustainability but lack novelty are continuations, imitations, or iterative improvements of existing business models. Only when both novelty and sustainability are present can a business model be considered an original business model that has undergone breakthrough innovation.

To proactively engage in business model innovation, companies must understand the process of business model innovation [18]. This process is often categorized into externally driven and internally driven approaches [19]. The externally driven perspective suggests that continuous changes in the external environment compel companies to improve their existing business models [20]. Through a reactive process of “trial-error-adjustment”, new business models are formed. On the other hand, the internally driven perspective argues that business model innovation is driven by the cognitive recognition of decision-makers within a company who take proactive measures based on perceived opportunities in the external environment [21]. In reality, the success of business model innovation relies on the synergy between external and internal factors during the innovation process [22].

Numerous scholars have explored the formation process of business models from a staged perspective and proposed various stage models. Morris (2005) identified five main stages of business model formation: clarification, refinement, adaptation, revision, and reinvention [23]. Casadesus-Masanell and Ricart (2010) identified two stages: business model establishment and business model strategy selection [20]. Cavalcante et al. (2011) divided the dynamic formation process of business models into three stages: idea generation, pattern creation, and ongoing adjustment or termination of the pattern [13]. Eyring and Johnson (2014) highlighted the stages of hypothesis, testing, and adjusting the blueprint for opportunity realization in business model development [24]. Wang Bingcheng et al. (2020) divided the business model innovation process into three stages: the period of business model ideation, application period, and lean period [25]. Blank and Dorf (2012) emphasized that startup companies need to reduce uncertainty by continuously narrowing down alternative options for their business model, gradually approaching a viable business model that meets both internal and external consistency requirements [26]. Recent research on the construction of business ecosystems has also emphasized the importance of enhancing the fit between elements, particularly the fit with the external environment, to make the business ecosystem more robust or build new types of business ecosystems [27,28,29].

From the above, it is evident that existing research has analyzed the dynamic formation process of business models from a procedural perspective [30]. However, these process divisions have primarily focused on generality and have difficulty reflecting the differences between original business model innovation and incremental business model innovation in the implementation process. Especially when original business model innovation faces challenges such as unclear constituent elements, undefined market rules and boundaries, and difficulties in capturing influencing factors, addressing and resolving these issues to achieve ultimate success requires answers to these detailed aspects.