Innovation is moving drastically fast, especially when it comes to new technologies like the IoT. While there are already many good examples to optimize processes and generate new revenue streams based on IoT, lots of companies hesitate to invest into the IoT. The reasons for this are the uncertainties that come into play and raise the question how a solution needs to look like to succeed.
Rapid prototyping helps to reduce the risk of high investments into a solution that is not yet fully understood and might be subject of multiple innovation cycles. Prototypes can be build extremely fast and help to actually evaluate new business models and get early feedback from customers and partners. In this talk we will demonstrate how a rapid prototyping development lifecycle looks like and how we use it to implement full IoT solutions within a few weeks. The process begins with an IoT innovation workshop in which we use Design Thinking techniques to come up with new ideas and business models. In a second step we rapidly evaluate the ideas and prototype the use case. Besides a flexible IoT-Cloud application, sensor tags and other IoT hardware are key enablers for a fast development process.