Toronto selected as site for $100-million Cisco Global Innovation Centre
March 5, 2014 By Manufacturing AUTOMATION
Toronto has been selected as the location for one of four global Cisco Internet of Everything (IoE) Innovation Centres, representing a planned investment of up to $100 million over 10 years.
Toronto will join Songdo, South Korea; Rio de Janeiro, Brazil; and Germany as one of four centres announced worldwide.
This North American hub for thought leadership and experimentation will bring together startups, technology and services partners, academia and customers to focus on technologies and market opportunities surrounding the Internet of Everything, while fostering Canadian-based innovation.
The Toronto IoE Innovation Centre, which represents a $100-million investment in design and infrastructure, technology, staffing and operational costs over the next 10 years, will occupy approximately 15,000 square feet of space in the new RBC WaterPark Place, scheduled for completion in spring 2015. RBC WaterPark Place, positioned to be North America’s smartest office tower, 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.
“Innovation Centres are a key pillar of our strategy to impact the productivity and innovation trajectory of Canada,” said Nitin Kawale, president of Cisco Canada. “The Internet of Everything is not only changing the world, but creating new opportunities. Connecting the unconnected has the potential to bring revolutionary change to industries, including health care, education, municipalities, transportation and construction. With this IoE Innovation Centre, Cisco aims to help create new markets and solutions and establish a hotbed for experimentation.”
The Innovation Centre will help companies and government agencies capitalize on the opportunities presented by the Internet of Everything – an opportunity estimated to be worth $19 trillion over the next decade (2013–2022), including approximately $500 billion in Canada.