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This standard is applicable to all countries and any type of organization, startup or established for developing an Innovation Management System (business, government, non-profits, sports 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 a business model innovation framework and innovation projects. Innovation objectives and subsequent projects may include creating new or improving existing technologies, products, services and processes. Companion documents such as Assessment Checklist, Guidelines and Reference Publications are available to support this standard and assist the end user in developing and implementing an Innovation Management System (IMS).