The purpose of this paper is to study the important factors used to develop a business plan in order to create profitable and sustainable business model by taking advantage of continuous growth of Internet and Online game technology. Studying and data collection methods by using the review of relevant published research and articles from various sources. Conducting in depth interviews with Online game publishers, E-Sports promoter and Game magazine publishers including the questionnaire survey among online gamers in Bangkok in its vicinity. The results of the study were used to develop a business plan “Cyber Arena”. This study describes the process of business innovation. The first phase of the project involves studying and analyzing of business opportunities. The second phase is to create a new business model. The final phase involves the market research activitiy to prove the feasibility of the business plan.