More than 70,000 university US issued patents and published patent applications are reviewed for finding the good candidates for the IoT strategically packaged patent portfolio. Even if the Internet of Things (IoT) gets a huge attention recently, the concept of interconnected devices and connecting billions of devices to the internet in the IoT is not new and has been researched for over 10 years. Thus, there may be a large number of patents (that were not intended for specific IoT application at the time of invention) that can be exploited for developing new IoT business by forming the strategically packaged patent portfolio for providing the new IoT value propositions. The strategically packaged patent portfolio is the collection of the existing patents that can be exploited for developing new products/services (and thus, new business) by integrating the value propositions of each patent of the portfolio. The strategically packaged patent portfolio can be exploited for monetization through patent sale, patent licensing, commercialization, spin-off, patent banking, and financing.