Cisco to invest bilion dollar for UK's digital growth

Cisco has declared a series of strategic commitments for UK's digital growth. The company will invest over $1 billion in next three to five years. 

It will be followed by $500 mn commitment made by Cisco in 2011, which has contributed in excess of $5 bn in technology and manpower to the UK economy through initiatives such as the British Innovation Gateway (BIG) that helps to grow and nurture UK innovation and entrepreneurship.

The commitment of $150 mn for Internet of Everything UK start-ups and venture capital equity investments will focus on key priorities for Cisco and the UK. These include applications of Internet of Everything (IoE) technologies across financial technologies, retail, and healthcare industries, and smart city development. In addition, corporate investments will also accelerate innovation in cybersecurity solutions.

John Chambers, Chairman and CEO, Cisco said that they are pleased to make their next series of strategic commitments, totaling over $1Bn, to support the next phase of the UK’s digitization plans.

As a part of Cisco’s new financial commitment, capital will also be available for further strategic acquisitions by Cisco in UK, which over the past five years has included acquisitions in wireless software, next-generation video delivery, and cloud-based security technologies.

The new activities form part of Cisco’s global ‘country digitization acceleration’ programme, whereby select countries across the world receive major strategic investment to accelerate existing government goals for driving economic growth through high-tech innovation.

In recognition of the productivity challenges faced by UK and the necessity to increase the level of students utilising science, technology, engineering and maths (STEM) skills, Cisco will also invest to promote innovation and entrepreneurship with its Networking Academy education programme