Welcome!

News Feed Item

Cisco Investments Commits $150 Million to the Cisco Canada Innovation Program

Under Cisco Investments, the Cisco Canada Innovation Program Will Invest $150 Million in Canadian Companies and Continue Cisco's Commitment to Driving Innovation in Canada

TORONTO, ON -- (Marketwired) -- 06/19/14 -- Cisco Canada (NASDAQ: CSCO) today, together with Canada's Finance Minister, the Hon. Joe Oliver, announced the Cisco Canada Innovation Program, a strategy to invest $150 million (CAD$) to support and accelerate innovation in Canada. Cisco Investments, through a combination of investments in venture-capital funds, incubators and direct, seeks to drive creative and ambitious innovation in Canada, in addition to providing Cisco technology and go-to-market expertise to Canadian business.

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. Through the Cisco Canada Innovation Program, Cisco is encouraging other corporations to recognize Canada's tremendous talent, innovation and commercialization opportunities and to increase their investments.

The 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.

According to CB Insights, Cisco's global venture capital investments are among the most successful in the world. Over the last 20 years, Cisco has invested in hundreds of companies across different segments and helped them build to successful IPOs or acquisitions. Cisco currently has an active portfolio of USD $2B with over 80 direct investments around the world, and we also hold Limited Partner positions in over 35 funds globally.

Supporting Quotes:

Joe Oliver, Minister of Finance
"Innovation and investment are the key drivers of the Canadian economy, leading to jobs, growth and long-term prosperity. Cisco Canada's investment will create jobs across Canada and help turn the entrepreneurs of today into the business leaders of tomorrow."

Nitin Kawale, President, Cisco Canada
"Cisco believes there is a tremendous opportunity for growth and prosperity in Canada's innovation engine. 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. We believe the Cisco Canada Innovation Program is a great opportunity to fund and mentor start-up companies, foster innovation and help Canada be recognized among the most innovative countries in the world."

Hilton Romanski, Senior Vice President, Corporate Development, Cisco
"Canada is a great place to do business, with tremendous potential for innovative ideas. Cisco's investment focus is on strategic opportunities that align with our business today and with potential future disruptions that may shape the broader, global market and ecosystem. We see many opportunities in Canada and look forward to enhancing our global portfolio with additional venture funding in Canada's innovation ecosystem."

About Cisco
Cisco (NASDAQ: CSCO) is the worldwide leader in IT that helps companies seize the opportunities of tomorrow by proving that amazing things can happen when you connect the previously unconnected. Cisco products and services are supplied in Canada by Cisco Systems Canada Co., a wholly owned subsidiary of Cisco Systems, Inc. For ongoing news, please go to http://thenetwork.cisco.com and http://newsroom.cisco.com/canada.

"Cisco Investments" is not a separate corporate entity, but instead refers to the combined investment activities of Cisco Systems, Inc. and its subsidiaries.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
“delaPlex Software provides software outsourcing services. We have a hybrid model where we have onshore developers and project managers that we can place anywhere in the U.S. or in Europe,” explained Manish Sachdeva, CEO at delaPlex Software, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, discussed how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved efficienc...
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
In his session at @DevOpsSummit at 19th Cloud Expo, Yoseph Reuveni, Director of Software Engineering at Jet.com, will discuss Jet.com's journey into containerizing Microsoft-based technologies like C# and F# into Docker. He will talk about lessons learned and challenges faced, the Mono framework tryout and how they deployed everything into Azure cloud. Yoseph Reuveni is a technology leader with unique experience developing and running high throughput (over 1M tps) distributed systems with extre...
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
We all know the latest numbers: Gartner, Inc. forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from last year, and will reach 20.8 billion by 2020. We're rapidly approaching a data production of 40 zettabytes a day – more than we can every physically store, and exabytes and yottabytes are just around the corner. For many that’s a good sign, as data has been proven to equal money – IF it’s ingested, integrated, and analyzed fast enough. Without real-ti...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
As companies gain momentum, the need to maintain high quality products can outstrip their development team’s bandwidth for QA. Building out a large QA team (whether in-house or outsourced) can slow down development and significantly increases costs. This eBook takes QA profiles from 5 companies who successfully scaled up production without building a large QA team and includes: What to consider when choosing CI/CD tools How culture and communication can make or break implementation