This study analyses the readiness of an emerging ecosystem for Pay-per-Outcome (PPO) business model. We adopted a qualitative exploratory research approach to assess the readiness of firms (as an individual firm) and the emerging ecosystem in the Indoor Environment Quality (IEQ) industry. The maturity model was used to assess the readiness of emerging ecosystem and individual companies. The study identifies 11 critical dimensions in readiness from an emerging ecosystem perspective. We follow a 4-step process 1) Individual companies’ current readiness level, 2) Individual companies’ target level, 3) Emerging ecosystem’s current readiness level, and 4) Emerging ecosystem’s target level. This is the first of its kind to the best of our knowledge that studied the emerging ecosystem readiness for the PPO business model.