Boston, MA 06/20/2014 (wallstreetpr) – Designer and manufacturer of Internet Protocol based networking products, Cisco Systems, Inc. (NASDAQ:CSCO) disclosed that it has committed investments in its Canada Innovation Program. It will be pumped into Canadian companies and continue Cisco’s commitment of innovation drive in Canada.
Investment Commitment
Cisco Systems, Inc. (NASDAQ:CSCO) disclosed that along with the Canadian Government, it has committed investments of C$150 million through Cisco Canada Innovation Program. The idea of the program is to help and speed up innovation in Canada.
Cisco Investments would seek to fuel ambitious and creative innovation in Canada besides offering Cisco technology, and the expertise of go-to-market to Canadian business. It will be done through a mixture of investments in incubators, direct, and venture-capital funds.
In the next one decade, the company intends to invest in businesses, mix of technologies, and by engaging investment partners and mentor of start-ups besides developing innovators and a fresh set of leaders.
By launching Cisco Canada Innovation Program, the company is showing other corporations the way to recognize the abundant potentials of Canada. It includes talent, commercialization opportunities, innovation, and higher investments.
Three Key Areas
The program will focus its attention on three key areas, namely, Director Technology Sector Investment, Venture Capital Investments, and Working with Incubators. Cisco Systems, Inc. (NASDAQ:CSCO) will probe the opportunities in cloud infrastructure, big data/analytics/information management, mobility, digital media, and intelligent infrastructure under its direct technology sector investment.
Cisco will fuel the innovation engine in Canada covering a wide technology spectrum offering the company with visibility into the start-up community of Canada and develop on the company’s and the government’s relationship.
The third key factor of working with incubators would offer technology support and mentorship to early-stage companies to drive enterprise solutions, and industrial service provider.
Management Speaks
Cisco’s president for Canada Nitin Kawale said that there are more growth opportunities and prosperity in innovation engine of Canada. Cisco Systems, Inc. (NASDAQ:CSCO) believes that the program offers the opportunity to mentor and fund start-up companies besides fostering innovation and supports Canada as one of the most innovative nations.
