Cisco announced on March 5 that 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 decision builds on Cisco’s recent investments in Canada, which include:
- Up to $4 billion over 10 years to expand Cisco’s footprint in Ontario and create up to 1,700 new jobs;
- Multi-million dollar investment to establish research chairs, professorships and innovation centers at 10 universities across Canada;
- Signing on as a Premier Partner in 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 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.
Focusing on technologies and market opportunities surrounding the Internet of Everything, the Innovation Centre will help start-ups, established companies, and entire industries explore what is possible with Cisco technologies and Smart+Connected solutions, while fostering Canadian-based innovation.
This North American hub for thought leadership and experimentation will bring together start-ups, technology and services partners, academia and customers to re-think and transform the status quo, while continuing Cisco’s tradition of making IT relevant to decision makers and business leaders, says a press release issued by Cisco on March 5.
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 Oxford Properties’ 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.
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), and including approximately $500 billion in Canada.