IR-UWB makes it possible to implement ultra-low-power and short range communication (see this link) and provides localization capability. These advantages are both related to the use of short duration pulses: they enable aggressively low duty cycling to decrease to fractions the power consumption of transmitters and receivers and time-of-flight estimation (ranging) from which indoor relative localization can be estimated. IR-UWB is a technology that can be effectively used in IoT through commercially available chipsets (e.g., Decawave, Time domain, or Bespoon) or through application-specific research and development. A lot of work can still be done in the Research and Development context, in particular to enable additional features for the IoT (see this Eurotraining presentation here).
The research activity has started in 2010 in the former Center for Space Human Robotics (CSHR) IIT@PoliTo, in cooperation with the MINES group of the Politecnico di Torino.