This paper investigates the process whereby firms move from a closed to an open business model, and, in so doing it points to the relationship between a firm's innovation approach and its business model(s). The empirical setting of this qualitative investigation is a consortium of Danish organizations, which was recently established to develop commercial applications for an emergent positioning technology. The consortium comprises six core partners (three firms, two universities, and one applied research institute) with another eight firms having expressed interest in future collaboration. A significant contribution of this paper is to show that adopting an open innovation model is unlikely to succeed without changing the underlying business model.