Abstract
The main objective of this paper is to analyze the interaction between innovation capabilities and elements of the business model of farming organizations in Boyacá, Colombia. This study used a quantitative methodology, employing the Partial Least Squares Path Modeling (PLS-PM) technique. The theoretical model includes seven hypotheses that outline the relationships between innovation capabilities (sensing, seizing, and transformation) and a business model (creation, delivery, and capture). The study revealed a significant correlation between the ability to detect and retain innovation and the development and implementation of business models. This underscores the significance of continuous learning and efficient alliance management in acquiring and utilizing environmental knowledge. The implications of this study are directed towards decision-makers, stakeholders, and policy makers within Colombia’s National Agricultural Innovation System (NAIS). The study emphasizes the crucial role of a well-integrated system among its various actors in influencing the success of business models. It examines innovation as a dynamic capability and its interplay with vital components of the business model, thereby enhancing comprehension of business dynamics within this sector.