What is our track record on Innovation?
How are we doing on Innovation so far? All groups in Cisco are interested in Innovation (of all types: line-extension, services, new processes, etc.). Cisco’s Emerging Technology Group (ETG) is specifically responsible for incubating new growth markets, which is why we are sponsoring the I-Prize contest.ETG has brought 4 business units to market so far (we have 5 others that are still busy working on their products). The 4 publicly announced business units are:1. TelePresence: the next best thing to teleportation2. IP Interoperability & Communications Systems (IPICS: radio & telephony interoperability)3. Digital Media Systems (desktop video & signage)4. Physical Security (video surveillance)Each of these business units has been incubated in our group, which means we hire the founders (half from inside Cisco, half from industry), build the product, and then sell the product. From idea to product takes between 12-18 months. We then continue to incubate the new business unit for 2 to 3 years. Once it grows up nice & strong, like all children, it leaves home (and finds a home elsewhere inside Cisco).This incubation process is relatively unique in industry, because we are responsible from idea to successful launch. It’s not enough to have a good idea, we have to execute well also. We expect our first business units to graduate within the next 12-18 months. This lets us make room for new ones. We’re always looking for the next billion dollar idea, so if you have one, go to www.cisco.com/iprize and enter our contest!