Cisco to Invest $150M in Canadian Companies; Nitin Kawale Comments

Under Cisco Investments, the Cisco Canada Innovation Program, will invest in Canadian companies to continue driving Cisco innovation in Canada.

Canada’s finance minister, Joe Oliver, along with Cisco Canada announced Friday the Cisco Canada Innovation Program, a strategic program to drive Canadian industry, proposes to invest $150 million for further innovation in Canada.

Cisco plans to invest in a variety of technologies, businesses and investment stages over the next 10 years and hopes to engage with investment partners and start-ups to work on developing new leaders in 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,” said Cisco Canada President Nitin Kawale.

The CCIP will work to focus on three key areas including the direct technology investor segment, the venture capital segment and working with incubators, Cisco said.