Internet-of-Things applications are not only the new opportunity for digital businesses but also a major driving force for the modification and creation of software systems in all industries and businesses. Compared to other types of software-intensive products, the development of Internet-of-Things applications lacks a systematic approach and guidelines. This paper aims at understanding the methodological commonalities among startups who are developing Internet-of-Things products. Using the

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... AT Essence framework, we captured common team compositions, common types of Minimum Viable Products and common way of working in early stage Internetof-Things startups. We found that startups include various engineering and business competence, but do not cover all of what is needed. The development of Internet-of-Things applications adopts certain speed-favor approaches, i.e. rapid prototyping, iterative development and outsourcing. The finding implies some recommendations for both researchers and practitioners in the area of Internet-of-Things development.