Abstract—Recently, the concept of the Internet of things (IoT) has flourished and attracted many start-ups to invest in related industries. However, start-ups and new businesses often face challenges in initial development. The subject of this study, NewGreen (NewGreen Tech Co., Ltd), is an air quality sensor start-up that has operated for 3 years. NewGreen has connected air quality operators and experts from various fields, established databases, and combined air quality detection with equipment improvement to create a sensor, product, system, and platform chain, to promote the formation of an industrial ecosystem that co-creates value eventually. The company now works with the international brand “Acer” and obtained investment from the data network product manufacturer “Edimax”. This study analyzed NewGreen’s business development history, including sensor, product, system, platform, and Industrial Ecosystem, to observe how the company react rapidly to adapt itself to the resource and environment in the aspects of its strategic agility, enterprise resource bricolage, exploration toward new opportunity and exploitation on enterprise itself. The study results can serve as a reference for start-ups engaged in IoT technology development.

Index Terms—Exploration and exploitation, resource bricolage, strategic agility.

Yuan-Hsiang Liang is with Graduate Institute of Management, National Taiwan University of Science and Technology, 43, Sec.4, Keelung Rd., Taipei, Taiwan (email: liangjack730@gmail.com).
Tzu-Chuan Chou is with Department of Information Management, National Taiwan University of Science and Technology, 43, Sec.4, Keelung Rd., Taipei, Taiwan.

Cite: Yuan-Hsiang Liang, Tzu-Chuan Chou, "From Economical Evolution to Industrial Revolution: Developing an IoT Based Co-creation Ecosystem," International Journal of e-Education, e-Business, e-Management and e-Learning vol. 11, no. 3, pp. 101-109, 2021.

Copyright © 2021 by the authors. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).