The Yocto Project was formed for several reasons, many of which are explained in the Charter. However, the value to larger organizations may not be obvious.
Several large companies have become Member Organizations and are changing their business structure to either sell services based or even base their own products on the Yocto Project. Even though many of the organizations on the Advisory Board are actually competitors, they recognize the value in sharing the heavy lifting in the development of Yocto Project tools and methods while differentiating their products and services at a different level. This makes the project similar to a consortium in some respects, with the vital difference that it is an open source project, not a consortium, and thus can not be disbanded if some of its member organizations change, lowering the risk while simultaneously increasing the benefit to all. The Linux Foundation ensures that the Yocto Project will continue to provide tools and resources in cooperation with its member organizations, functioning as a rising tide that lifts all boats.
If your organization sees the inherent value in this project and you wish to participate, there are many ways to do so. Visit the Participation page, join the Community, and learn more about the project at an upcoming event or by reading presentations or watching the many videos about the Yocto Project.