Living Lab Business Model

“A business model describes the rationale of how an organization creates, delivers, and captures value” (Osterwalder and Pigneur, 2010). LLBM part is grounded on Business Model Canvas (BMC) approach (Ibid.), which consists of the following nine different elements. (1) key activities, (2) key resources, (3) partner network, (4) value proposition, (5) customer segments, (6) channels, (7) customer relationships, (8) cost structure and (9) revenue streams. The living lab standard defines common attributes associated with each nine BMC element.