The Internet of Things (IoT) is one of the most exciting phenomena of the tech industry these days. But there seems to be a lot of confusion surrounding it as well. Some think about IoT merely as creating new internet-connected devices, while others are more focused on creating value through adding connectivity and smarts to what already exists out there.

I would argue that the former is an oversimplification of the IoT concept, though it accounts for the most common approach that startups take toward entering the industry. It’s what we call greenfield development, as opposed to the latter approach, which is called brownfield.

Here’s what you need to know about greenfield and brownfield development, their differences, the challenges, and where the right balance stands. Continue reading →