Business model innovation and digital technology: The perspective of incumbent Italian small and medium-sized firms

Objective: The aim of the article was to conduct an explorative study on the relationship between business model innovation and digital technologies in incumbent small and medium-sized enterprises (SMEs).Research Design & Methods: A qualitative methodology supported the study by providing a novel perspec-tive of analysis. Ten cases were selected from a sample of seventy SMEs engaged in a university-industry collaboration programme.Findings: The study aimed to explore the implications of the business model innovation process in incumbent SMEs when they adopt digital technologies. This perspective helped to understand how digital technologies act as enabling factors that support SMEs in innovating their business models.Implications & Recommendations: This study developed a conceptual framework to depict business model innovation when SMEs adopt digital technologies. Digital technology emerged as a necessary but not sufficient condition to achieve business model innovation.Contribution & Value Added: The study shed light on the relationship between business model innovation and digital technologies in incumbent SMEs and unfolded its major underlying factors.