Internet of Things (IoT) Cybersecurity Improvement Act of 2017 This bill requires Internet-connected devices purchased by federal agencies to meet specified security requirements, including requirements that the devices (1) do not contain known security vulnerabilities or defects; (2) rely on software or firmware components capable of accepting properly authenticated and trusted updates from the vendor; (3) rely only on non-deprecated industry-standard protocols and technologies for certain functions; and (4) do not include fixed or hard-coded credentials.