The main objectives of this study were to explain recent trends in new business model innovations (BMI) and identify and discuss the most significant factors for their appearance and success. There is a need to conceptualise BMI and identify the components which render themselves to policy interventions. Drawing on innovation survey data, the study mapped BMI in Europe and beyond. By means of a comparison of case studies on BMI, the drivers and barriers of BMI success, contribution to commercializing the results of academic research and development, and importance in the public sector were analysed.