In the contemporary business landscape, the imperative for innovative approaches to business model innovation (BMI) is more pronounced than ever, especially given the pressing grand challenges, technological disruptions, digital transformation, and pressing environmental and social concerns of our era. The prevailing discourse in business model and BMI scholarship predominantly revolves around established frameworks and methodologies, thereby not fully capturing the burgeoning opportunities and transformative forces redefining BMI's future trajectory. This open access volume aims to fill the gap in scholarly discourse by offering a theory-rich exploration into the innovative pathways of business model innovation. Crafted for a global readership, this text serves as an invaluable resource for academic institutions, their faculty, students, and practitioners of business development within both expansive corporations and medium-sized enterprises. A key contribution of this edited book is the introduction of groundbreaking models and theoretical insights within the BMI domain, identifying key research gaps and further research venues for junior and senior academics to pursue, while enhancing the comprehension of how entities—ranging from individual organizations to expansive networks—can innovate, execute, and capitalize on BMI in the forthcoming landscape. Furthermore, this book elucidates the multifaceted nature of business model innovation across diverse contexts, illustrating the myriad ways BMI can be conceptualized and operationalized to achieve varying objectives, benefits, and results contingent upon the specific scenario. Lastly, this volume is dedicated to invigorating and equipping both nascent startups and entrenched firms to seize emergent BMI opportunities, fostering an environment where leveraging networks and platforms becomes a cornerstone for future business model innovation.