Looking back at NBM2025 held in the University of Iceland, Reykjavík, Iceland
24 June 2025: Doctoral Colloquium
25-26 June 2025: Conference Dates
The 10th edition of the International Conference on New Business Models, themed Global Challenges – Local Responses: Scaling Up Local Sustainability Innovations and Business Models to Address the SDGs, built on the success of previous conferences by strengthening its position as a leading platform for cutting-edge research and dialogue on sustainable business models. NBM2025 reaffirmed its role as a dynamic space where academics, researchers, and practitioners converge to explore bold, innovative, and responsible business model designs aimed at tackling today’s complex global challenges. The president of Iceland, Halla Tómasdóttir, encouraged participants to move from vision to action, while the keynote speaker, Jan Jonker, challenged them to rethink business models to foster transition. He emphasized shifting the focus from individual organizations to organizational ecologies, where community-based governance and business models intersect. By collaborating on shared value creation, addressing persistent challenges, and shaping collective business models, participants were encouraged to make these models truly work in practice.
NBM2025 was set against a backdrop of new socio-economic complexities and uncertainties, making it increasingly challenging to design and adopt sustainable business models. Global trends like climate change, resource scarcity, demographic shifts, and the technological revolution are driving significant transitions that demand radical, transformative change, supported by various forms of innovation, while sustainable business models are crucial for achieving digital, green, and inclusive transitions.
NBM2025 highlighted the urgent need to rethink business models across multiple levels to accelerate sustainable transitions. At the system level, the conference emphasized collaborative business models and ecosystem thinking as key enablers of inclusive and sustainable change. Discussions explored how empirical insights and theoretical foundations can inform business models for transitions, with particular attention to collaborative and circular models emerging in the Global South.
At the sectoral and organizational levels, the focus shifted to practical innovations, including data-driven business models for sustainable transformation, experimentation with circular-economy solutions, and rural community-led initiatives. These examples illustrated how diverse contexts demand adaptive strategies to foster resilience and inclusivity.
On the organizational impact level, participants examined the design and functioning of sharing economy models, management and accountability mechanisms, and approaches to assess and improve sustainability performance. The role of business models during times of crisis was also a critical theme, underscoring the need for flexibility and long-term value creation.
Finally, the conference reinforced the importance of strong theoretical and methodological foundations for advancing research in this field. New perspectives on business models for sustainability and the integration of design thinking practices were presented as essential tools for driving innovation and shaping the next generation of sustainable business models.
We extend our deepest thanks to all contributors and participants who made this 10th edition such a vibrant and forward-looking event.
Dr. Lára Jóhannsdóttir
Conference chair
Environment and Natural Resources, School of Business
Dr. Þórey S. Þórisdóttir
Conference committee
School of Business
Dr. Adeel Akmal
Conference committee
School of Business
More resources NBM 2025:
A DISTINGUISHED WELCOME. In this image, we have the keynote speaker, Professor emeritus Jan Jonker, greeting the Madam President of Iceland, Halla Tómasdóttir, with the conference chair, Professor Lára Jóhannsdóttir, and the Rector of the University of Iceland, Dr. Jón Atli Benediktsson, in the background.
OPENING MESSAGE. Keynote speaker, Professor Emeritus Jan Jonker, opened the session of the conference.
CONFERENCE VENUE. NBM2025 was held on the University of Iceland campus in Reykjavík.