This document summarizes a presentation about open source and open standards for the Internet of Things (IoT). It discusses the promise and challenges of the IoT, including many disjoint efforts and standards. It then describes OpenStack and OpenDaylight, two open source projects that provide platforms for cloud computing and SDN/NFV. Finally, it discusses how open source and open standards can be combined to accelerate innovation for the IoT through collaboration on efforts like oneM2M, IoT Data Broker, Time Series Data Repository, and putting the pieces together through projects like OPNFV.