Startups and unicorns with innovative business models are attracting significant attention from global businesses and the Vietnamese government. However, in comparison to the global landscape, startups in Vietnam remain relatively modest. Limited research exists that clearly identifies the factors influencing innovative business models and how they impact them. This study addresses these issues by applying the AHP (Analytic Hierarchy Process) technique, utilizing a questionnaire survey directed at business experts. Building upon the previous study, this research has adjusted the three variables with the lowest values: digital platform, less is more and commercialization. The research highlights key factors such as disruptive technology and transparency. With a comprehensive analysis and experimental results, Vietnamese startups are gaining a deeper understanding of innovative business models, enabling them to shape their own strategies within the context of the Fourth Industrial Revolution.