The business model concept has received high praise in management literature for the last two decades. While scholars identified the concept with incumbent organizations during the 90s, it has since gained traction within the entrepreneurial community. Although successful in practice, however, it has yet to gain significance in academia.This study identifies a gap in business research between two heavily studied subjects, business model design and entrepreneurship. It combines academic research with empirics to assess its research questions.The findings indicate that start-ups are well aware of business model design. It further identifies which components of the business model that are of high value to new venture and which components are down prioritized. The findings further supports the idea of trial-and-error experimentation as a natural process for entrepreneurs.This study advances the research of business model design for start-ups, by adding new findings to existing literature. Moreover, it creates a framework for studying the topic of business model design within new ventures, which can be further developed by scholars.
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