There is significant hype around digital transformation and companies are vying with each other to build connected products and processes. However, estimates indicate that more than 80% of digital transformation projects fail. One of the reasons these organizations fail is due to a significant mismatch between their digital capabilities and their digital goals. Companies need a framework to determine their current level of "digitalness" and what capabilities they need to add to get to the next level; in this manner, they can approach their digital transformation in a step-by-step manner thus enhancing their chances of success. In this report, we will present the Lux Digital Maturity Model which will clearly define the different levels of digital maturity in terms of various underlying parameters. In subsequent research, we plan to use this maturity model to benchmark the maturity of digital transformation in various sectors.