Cisco Canada today announced the Cisco Canada Innovation Program, a strategy to invest $150 million to support and accelerate innovation in Canada.
Cisco plans to invest across a mix of technologies, businesses, and investment stages over the next 10 years, and will "actively engage with investment partners and start-ups to mentor and develop new leaders and innovators," the company says.
According to the company, Cisco Canada Innovation Program will focus on three key areas:
- Direct Technology Sector Investment: will investigate opportunities in areas such as cloud infrastructure, digital media, big data/analytics/information management, intelligent infrastructure and mobility.
- Venture Capital Investment: will drive the innovation engine in the country, cover a broad spectrum of technology, provide Cisco with visibility into the Canadian start-up community and build on Cisco's relationship with the Canadian government.
- Working with Incubators: will provide mentorship and technology support to early-stage companies to stimulate industrial, service provider, and enterprise solutions.
"Innovation and investment are the key drivers of the Canadian economy, leading to jobs, growth and long-term prosperity," said Canada's Finance Minister, Joe Oliver, who attended Cisco's announcement.
"Canada continues to produce some of the top engineering and management talent in the world and is home to dynamic industries that are ripe for business transformation," added Nitin Kawale, President, Cisco Canada.
"Canada is a great place to do business, with tremendous potential for innovative ideas," agreed Hilton Romanski, Senior Vice President, Corporate Development, Cisco.