Cisco announces $100 mn strategic investment

 Cisco India, part of the US networking solutions giant Cisco with a total revenue of around $50 billion, has announced its strategic investment of $100 million, including $40 million to fund early and mid-stage startups.

Cisco made the announcement in the presence of Cisco Executive Chairman John Chambers and Cisco India and SAARC president Dinesh Malkani.

The investment initiative is a part of Cisco’s global ‘Country Digitisation Acceleration’ or CDA programme, whereby select countries across the world receive major strategic investments to accelerate existing government goals for driving economic growth through high-tech innovation.

Commenting on the new investment, Chambers said digitisation goes beyond connectivity. “The impact of digitisation is far-reaching, helping countries maintain global competitiveness, foster innovation and create jobs.”

Cisco will collaborate closely with state governments on strategic initiatives, including the addition of six new innovation labs, three centres of expertise, funded university collaborations and skills investments.