Industrial Symbiosis (IS) is an emerging business tool with a systemic and collaborative approach to optimize and close cycles of materials and energy by identifying synergies and fostering cross-sectoral cooperation among economic actors. The major facilitator of revealing IS opportunities for organizations is both analyzing the status quo with quantitative methods and connecting the supply and demand of the entities involved through an adequate Information Communication Technology (ICT) solution. This study analyzed the extant body of literature and the corresponding ICT tools of IS in order to design a preliminary concept of an Information Technology (IT) supported IS tool that supports the identification and assessment of IS potentials, providing more transparency among market players and proposing potential cooperation partners according to selectable criteria (e.g. geographical radius, material properties, material quality, purchase quantity, delivery period), bringing synergy partners together.