Abstract-The introduction of the Internet of Things (IoT) in education, which allows Internet based communications to happen between physical objects, sensors and controllers, has changed educational institutions massively. By embedding sensors in objects and integrating cloud computing, augmented reality, wearable technologies and big data in this platform, different parameters of the educational environment can be measured and analysed to provide useful information. It also has created a new interaction between people and the environment in educational organisation. In this research based on the recent IoT projects in education, we will categorize the application of IoT in education into four groups: energy management and real time ecosystem monitoring, monitoring student's healthcare, classroom access control and improving teaching and learning. We will investigate and analyse how this platform has changed the Education Business Model and added new value propositions in such organizations based on the Canvas Business Model.