Presently, boosting renovations of old and dilapidated buildings in the cities and urban renewal are the most pressing public issue in Taiwan. Due to the small size of the real estate market, price competition among businesses, and urban renewal cases taking an average of five to ten years to conclude, most companies are either breaking even or facing operational difficulties. This study analyzed the case of Taipei City with reference to Business Model Generation by Osterwalder and Pigneur (2010) and used the innovative business models of urban renewal, which emphasize meeting social needs and promoting public understanding as the basis of the research. This study hypothesizes that there is a disparity between the urban renewal needs of old and dilapidated buildings and the public understanding of the issue. This article proposed suggestions that prioritize the safety of residents, the renovation of old and dilapidated buildings, and the implementation of urban renewal policies, which can be used as guidance by researchers for conducting future academic studies.