Purpose: To understand how Embrapa Forestry Unit structure its business model to manage better the issues inherent to open innovation, oriented to the management of technology, science delimiting the elements of business models, and inbound and outbound open innovation and their aspects related to impact model. Originality/value: Embrapa Forestry is a research unit focused on technological research in the commercial and non-commercial forestry sector. The central objective of this work was to evaluate how a public company manages its business model in the practical exercise of open innovation. Design/methodology/approach: In order to understand the company’s business model, we adopted the perspective of triangulated single case study between semi-structured interviews and secondary data review based on reports and memos. This is all due to the technological relevance that used open innovation to design a model that today we understand as business models and impact business model, with the data collected and analyzed using the Atlas.ti software. Findings: The results indicate that the importance of Embrapa in the technological scenario in Brazilian agriculture has a significant socioeconomic impact. As a variant, we recognize that, for future research, other theoretical models could be used or adapted to the Brazilian empirical context to understand other organizational elements not addressed in the present study, which can explore cultural relations of the organization and the constitution of sense and meanings in the context of the innovation in public research companies.