Internet-connected objects will be an integral component of the future internet. Therefore, they must become integrated into emerging internet service delivery models, such utility and cloud computing. Indeed, the proliferation of applications involving internet-connected objects, has recently given rise to the notion of clouds of internet-connected objects, which are promoted as large-scale networks of spatially distributed "entities" with scalable processing and storage capabilities. However, there is still no easy way to formulate and manage cloud environments of internet-connected objects i.e. environments comprising "entities" (such as sensors, actuators and smart devices) and offering relevant utility-based (i.e. pay-as-you-go) services. OpenIoT is a joint effort of prominent open source contributors (of the GSN and AspireRfid projects) towards enabling a new range of open large scale intelligent IoT (internet-of-things) applications according to a cloud computing delivery model. To this end, the project will research and provide an open source middleware framework enabling the dynamic formulation of self-managing cloud environments for IoT applications. The OpenIoT middleware framework will therefore serve as a blueprint for non-trivial IoT applications, which will be delivered in an autonomic fashion and according to a utility model.OpenIoT environments for internet-connected objects will greatly facilitate the deployment and delivery of applications, since they will enable businesses and citizens to select appropriate data and service providers rather than having to deploy physical sensors. At the same time, they will provide capabilities (such as on-demand large scale sensing), beyond what is nowadays possible. The OpenIoT open source implementation will facilitate enterprises to integrate novel added-value IoT solutions, based on the lowest possible Total Cost of Ownership, while at the same enabling students and researchers to experiment and innovate.