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Building an IoT Innovation Capability in a Conglomerate

A $13B diversified industrial component supplier with over 100 autonomous business units needed a strategy to unite all business units behind a common and shared approach to developing an Internet of Things (IoT) platform and IoT solutions. They realized that independent IoT activities at the BU level would become a disaster and they wanted to create a corporate innovation model that would support and accelerate individual business IoT efforts at low cost.

What started out as an effort to examine IoT technology rapidly turned into a project to redefine the company’s innovation strategy to deal with the digital transformation occurring throughout the industrial world.


Together, we produced the following outcomes


A team of three people – one from the company and two from Inovo – led this effort to create a new approach to industrial IoT for the company. Together they did the following:

  • Ecosystem engagements with over 25, highly selected internal and external subject matter experts.
  • Deep and extensive Demand, Design and System research to uncover the possibilities of the technology and the needs and desires of the future customers
  • Redefined the existing value network and potential business models to align with the new IoT world and corporate strategy and culture.
  • Developed an IoT innovation strategy for corporate and business units.


In the course of 5 months, the 3-person working team and an extended advisory team accomplished the following:

  • Formed a new IoT division and made major investment in new IoT offering.
  • Established a cross-business IoT network to guide IoT activities.
  • Developed an IoT innovation strategy that will provide a common platform for corporate-wide IoT efforts.