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Cisco to invest $100 million in a new Toronto Innovation Centre

Major news out of Cisco today: Toronto is one of the four cities internationally that has been selected to host a new Internet of Everything Innovation Centre. (The other cities on the list: Rio de Janeiro; Songdo, South Korea; and a yet-to-be-named city in Germany.)

The 15,000 square foot facility will be part of Cisco's new headquarters, slated to open as part of RBC WaterPark Place in 2015. The $100 million investment in the innovation centre will be spent over 10 years, encompassing design and infrastructure, start-up costs, and ongoing staff and operations.

What, you may be wondering, is the "Internet of Everything"? It's basically just Cisco's term for the growing integration of new systems and aspects of daily life into the internet—the next iteration of the internet's penetration into our lives, and the next layer of connectivity that will generate.

"Today less than one per cent of the things that could be connected, are connected on the internet," explained Cisco Canada president Nitin Kawale when announcing the investment Wednesday morning. "Imagine what's possible if the remaining 99 per cent of things were connected."

The innovation centre will be devoted to exploring some of that potential new connectivity, "a place for our partners, customers, established companies, and start-ups from across North America to work together," Kawale said. "Toronto is a world-class community of creativity and talent. This facility will be a global hub of innovation for the Internet of Everything technologies. It puts Toronto and Cisco on the world stage."

Back in December Cisco also announced that it would be creating "up to 1,700 high tech jobs" in Toronto, with a total employee base of up to 5,000 in the region.

Toronto's Deputy Mayor, Norm Kelly, was on hand for the announcement. "When I look around this room to see the sampling of the technology that you're working with today and what it might be like tomorrow—it's mind-boggling. It really is."

Writer: Hamutal Dotan
Source: Cisco Canada
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