Exploring Business Model Innovation Process: Evidences from a Czech Virtual Reality Start-up

The presented paper addresses the problem of business model innovation process. The article examines how a start-up can bring about changes in business model operations in the area of using virtual reality in healthcare education. It also presents a novel approach to the use of virtual reality (VR) in the educational process. The study aimed to show the mechanisms of business model innovation.  The study was based on the case study method and was conducted on the example of a Czech startup, which conducts its activities based on virtual reality technology and its application in such industries as healthcare, education, social services and government sector.  The study identified the main mechanisms shaping the elements of the business model and showed the wide application of virtual reality technology. Business model development is required in today's market, typical of the fourth industrial revolution, which leads to automation and digitalization of business processes.