This standard is applicable to all countries and any type of organization, startup or established for developing an Innovation Management System (small-to-medium size businesses, large enterprises (private or listed), government bodies, non-profit organizations, sports organizations and entertainment, etc.). It is applicable to the development of new products, services and processes. Organizations can assess their innovation maturity to the standards requirements and systematically adopt the six elements of the standard to develop their own unique Innovation Management System. In general, every organization will have to adopt its own selection of underlying components. The standard provides the criteria necessary for individual learning, knowledge and management of an innovation framework and innovation pipeline and portfolios. Innovation objectives and subsequent projects may include creating new or improving existing technologies, products, services and processes. Companion documents such as the Assessment Checklist, Guidelines and Reference Publications are available to support this standard and assist the end user, the assessor or consultant in developing and implementing an Innovation Management System (IMS).