The Internet of Things is a push into the future and Cisco is betting a whole lot of money to become the leader of innovation across the tech world.
Cisco stated, it is to deliver some $150 million extra over the next few years in order to better fund early-stage companies with the goal of creating a new generation of companies that can tackle a number of ideas.
The aim is to accelerate development of a number of markets using the start-ups, including data sectors and analytics, IoT, mobility and connectivity among others. A major goal will be to continue on the India track, helping to boost innovation in the South Asian country.
"Our ability to identify and stay ahead of market disruptions is deeply rooted in our build, buy, partner and integrate approach to innovation," said Hilton Romanski, senior vice president, Cisco Corporate Development.
"We gain valuable insight and an understanding of market trends through equity investments in young and interesting companies who are leading the way through new market disruptions. Our investments in Alchemist Accelerator, Ayla Networks and Evrything align with our focus on early-stage innovation and companies focused on the Internet of Things."
Hence the development of Internet of Things as a massive endeavor. Going small will achieve little and would make it difficult for smaller entities to compete on the larger playing field. The hope is that the Internet of Things can increase connectivity, develop better, cheaper and tougher technology and wireless networking capabilities.
Cisco has already put forward a number of investments in recent years, including a total of $250 million on start-ups focused on the Internet of Things market opportunities. In order for companies to qualify, they must meet the goals of Internet of Things and the company hopes it will create a number of winners in the coming years.
Dave Friedman, co-founder and CEO of Ayla Networks, one of the companies Cisco has helped fund through the project, said, "Cisco Investments was quickly able to grasp the huge potential for Ayla's Agile IoT platform technology and business model. The Internet of Things represents one of the largest opportunities in technology, and Ayla is fortunate to be able to access the resources, expertise and relationships that Cisco Investments can bring."