Meeting global sustainability objectives, consistent with United Nations Sustainable Development Goals, requires a rapid transition towards a circular bioeconomy of food systems and away from our current linear system. This chapter illustrates the relationships between circular bioeconomy and the sustainability of diets and food systems. Furthermore, it highlights the key role that coordination and arrangements between business, institutional, and value chain stakeholders play in providing governance that builds and maintains sustainability of food systems. The chapter contrasts existing Business Model Canvas approaches to design and argues that for circular bioeconomy to be effective, governance must integrate the business model design process. The chapter proposes governance as an innovative dimension within business models and illustrates the complex relational pillars of circular business innovation dynamics; it argues the crucial role of stakeholders’ involvement in strategy design. It also illustrates how to encourage and scale up innovative companies willing to try new business models and to involve farmers, distributors, consumers, and other stakeholders in more sustainable and circular agri-food value chains.