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Accelerating open innovation on all fronts at Cisco

I introduced Cisco Entrepreneurs in Residence (Cisco EIR) earlier this year as a cornerstone in our strategy of embracing open innovation at Cisco. I also shared how we were extending Cisco EIR and open innovation across the US through local incubation partners, and I announced the launch of Cisco EIR in Europe. Now I would like to share updates on the great progress we are making with Cisco EIR as a catalyst of open innovation at Cisco.

Startups Selected to Join Cisco EIR in Europe

Last week we were excited to announce the six startups that will be joining our Cisco EIR program in Europe at the Pioneers Festival in Vienna. The six winners – innovating in the areas of Smart Cities, Internet of Everything (IoE)/cloud and Big Data/analytics – were chosen through a rigorous multiphase selection process conducted in collaboration with Pioneers. More than 350 applicants from 39 countries applied to join Cisco EIR Europe, with 15 finalists pitching live at the Pioneers Festival in front of Cisco experts and our European partners. Winners were selected based on the viability of their business plans, the strength of their teams and their alignment with Cisco’s IoE vision and strategy.

We were impressed beyond our expectations by the vision, passion, talent and technology of all 15 finalists. These startups made us more excited and convinced than ever that Europe was the right platform to discover and nurture the next generation of disruptive ideas for our industry and for Cisco.

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Reinventing Innovation to Capture the Internet of Everything Opportunity

The Internet of Everything (IoE) is not only disrupting traditional business models, it is also disrupting innovation itself.

While the focus at this week’s 2nd annual Internet of Things World Forum (IOTWF) here in Chicago is on capturing the accelerated opportunity of connected things, we believe there is even greater opportunity with the Internet of Everything: the networked connection of people, processes, data AND things. IoE is already transforming business outcomes, but in order to capture the full potential of its $19 trillion economic opportunity we will need to cultivate new skill sets and ways of thinking by both established organizations and 21st century entrepreneurs.

Innovating with local communities

This, in turn, requires new types of collaborations and investment mechanisms among industry, government and academia to incubate innovative ideas and turn them into commercial, scalable solutions for the betterment of society.

I am very proud of one such exemplary collaboration between the Cisco Entrepreneurs in Residence (Cisco EIR) program, led by Mala Anand, SVP of Services Platforms (“Open innovation: Harnessing the ideas, talent and passion of the startup eco-system”), and the Chicago Innovation Exchange (CIE), a startup incubator affiliated with the University of Chicago, Argonne National Laboratory and other leading technology organizations in the greater Chicago area. This partnership, announced last April, aims to support the most promising early-stage startups in the region that are focused on game-changing IoE and Smart Cities solutions by bringing the expertise and resources of Cisco and CIE in a co-incubation environment.

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There is No Limit to Innovation

There is no limit to innovation.  Cisco has embraced that idea for more than three decades with our build, buy, partner and integrate growth strategy.  Part of that strategy is investing in order to gain insights and drive new innovation.  True to that spirit, we have just announced the next evolution of the Cisco Investments[1] platform and a set of investments in support of an exciting new investment theme. These announcements build upon the foundation of our current $2 billion investment portfolio, which fuels innovations across many domains and geographies.

In addition to our primary strategic investment activity, we are also allocating $150 million in theme-based investments over the next three years to explore new, disruptive markets, including: big data/analytics, Internet of Things (IoT), connected mobility, advanced storage, silicon, content technology ecosystem, and India innovation. The $150 million in funding builds on our previously announced $100 million plan to invest in IoE-focused starts ups and funds.

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Here’s to You Entrepreneurs: Top 5 Go-to-Market Monetization Tips

Ged FittonBy Ged Fitton, Guest Blogger

The British Innovation Gateway (BIG) is a great Cisco-led initiative to foster innovation and entrepreneurship in the UK. A great part of my work on BIG involves the support  of IDEALondon – Cisco’s innovation centre -- and its start-ups.  And I have to say I’m always impressed with the enthusiasm and determination of companies to think outside the box, and challenge the status quo. It’s a fantastically exciting space to work in. In my role of helping companies monetise their innovation, I thought I’d share a few tips on how not to fall into the traps that I’ve seen many start-ups fall into. Read More »

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4 Steps to Write the Perfect Pitch for Your Start-Up

July 29, 2013 at 8:00 am PST

In every sales training I have attended, this question is always posed to me: “You meet the CIO in the corridor, how do you get a meeting with him?” To be honest, there is not a huge difference in how you answer this question whether you are a start-up seeking an investor or the attention of a mentor.

Being a business mentor for both Cisco’s British Innovation Gateway and RAPTOR research and development project, I have attended a lot of start-up events and met a lot of business owners. When I meet people for the first time, I always ask them to tell me about their start-up or business. This is exactly the type of question the start-ups pitching for the IDEALondon competition will have to be prepared for.

Cisco opened the IDEALondon competition for start-ups attending the Wired Money event earlier this month. This event, a partnership between Wired UK and Cisco, introduced the innovators transforming finance in the digital age, brought together entrepreneurs reinventing the financial industry, and highlighted the trends and risks that will shape innovation and define the future.

Wired_blog

Networking was a key component of the Cisco-Wired Money event

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