Innovation networks are seen as an important opportunity for organizational performance by facilitating the creation of new knowledge, not just transferring existing knowledge. Collaboration in innovation between manufacturing companies and research centers is a trend that continues to grow in importance linked to business success. Embedded in the literature on business models in the context of networks organizations, this paper propose key pillars and elements required in order to support the establishing of open business model for innovation networks. Subsequently the use of these elements in practice was verified through empirical research evidence in a case study.