TORONTO – Cisco today announced Toronto has been selected as the location for one of four global Cisco Internet of Everything Innovation (IoE) Centres, representing a planned investment of up to $100 million over 10 years.
The multi-million dollar investment will establish research chairs, professorships and innovation centres at 10 universities across Canada; will see up to $4 billion invested over 10 years to expand Cisco’s footprint in Ontario while creating up to 1,700 new jobs. Cisco also said it would sign on as a premier partner for the 2015 Pan Am/Para Pan Am Games.
Toronto will join Songdo, South Korea; Rio de Janeiro, Brazil; and Germany as one of four centres announced worldwide, the company said today. “The decision to locate in Canada’s largest city reflects Cisco Canada’s demonstrated thought leadership and expertise in working with municipalities, and the Canadian construction and real estate industries,” reads the release.
“This North American hub for thought leadership and experimentation will bring together start-ups, technology and services partners, academia and customers to rethink and transform the status quo, while continuing Cisco’s tradition of making IT relevant to decision makers and business leaders.”
The Toronto IoE Innovation Centre will occupy approximately 15,000 square feet of space in the Oxford Properties’ new RBC WaterPark Place in downtown Toronto, scheduled for completion in spring 2015. It will also be home to Cisco’s new Canadian headquarters. The building will be the first commercial office tower in North America to take advantage of a fully integrated IP-based building and energy network, adds the statement.
According to Cisco, the Internet of Everything is an opportunity estimated to be worth $19 trillion over the next decade, including approximately $500 billion in Canada.
www. cisco.com/ca
