#ExecInsights:Brazil Spotlights Innovation and the Internet of Everything
As Cisco’s executive sponsor for Brazil, I had the honor and privilege to launch our new Rio de Janeiro Center of Innovation on August 22.
I am very excited about the opportunities the Rio Center of Innovation can provide to enable growth – this venture is just one of many investments we are making to develop applications and solutions to foster what we call the Internet of Everything – expected to generate $613B in global profits in 2013, and $14.4 trillion of potential economic “value at stake” over the next decade. The facility will support local companies to develop applications and solutions intended to connect the 99 percent of things that still remain unconnected in the world today.
The Rio Center of Innovation will allow local companies to take advantage of some of the foundational technologies Cisco provides. We will join forces with our partners to create software, solutions and innovation for Brazil. Initially, we will support various sectors, such as: oil and gas; sports and entertainment; healthcare; education; public safety and security; and Smart grid.
Cisco has a culture that encourages, enables and recognizes innovation. We believe innovation must be nurtured as well as managed and the opportunities we see in Brazil are endless.
With the opening of the Rio Center of Innovation, we are delivering on our promises.
- On Dec 12, 2012, we announced investment in the second Venture Capital Fund, Monashees, to foster innovation and Entrepreneurship in Brazil.
- On Sep 26, 2012 we delivered on our manufacturing initiatives, announcing the first router that was manufactured in Brazil.
- On July 24, 2012 we announced the first investment with Venture Capital Fund Red Point ($15 million U.S.).
- In April 2012, we announced an investment package for Brazil for one billion reais, which included manufacturing, the opening of a center of innovation in Rio, and a Venture Capital fund.
Brazil is quickly becoming a global hub for innovation and we are excited to play a central role in its development and future success. This is an important time for Cisco, our partners and our customers in Brazil. Together, we have an unprecedented opportunity to use information technology to create local economic sustainable growth and social development, while also elevating Brazil’s position in the global digital economy. I look forward to continuing this journey to enable cities to transform and deliver better services to their citizens.