Cisco delivers new jobs and investment to accelerate UK digitisation
Cisco UK and Ireland
PR Manager, UK and Ireland
Company News, Digital Business, Public Sector, Cloud
During a meeting today at Cisco’s brand-new Finsbury Square office in Central London, the Secretary of State for Business, Innovation and Skills, the Rt Hon Sajid Javid MP, and Cisco UK and Ireland Chief Executive Phil Smith announced plans to create 200 new UK jobs for cloud professionals and an initial investment in the UK-based Startupbootcamp accelerator.
The Secretary of State and Cisco UK Chief Executive agreed on the fundamental importance of digitisation to the economy and discussed the specific role that Cisco can play in accelerating this process in the UK. In July this year Cisco announced it would invest $1 billion in the UK over the next three to five years; since then, Cisco has already made substantial UK foreign direct investments (FDI) by way of the intent to acquire Acano ($700 million) and Portcullis (financial terms undisclosed).
High Value Job Creation
More and more employees in the UK and around the world are using their personal devices for work purposes. Instead of resisting this, responsible IT organisations see the Bring Your Own Device (BYOD) trend as a means to boost employee productivity and take advantage of today’s always connected lifestyle. The Cisco® Meraki® cloud-based Wi-Fi offering is helping drive this forward.
Cisco is proud to announce that plans to create 200 new jobs at Cisco Meraki in the UK for cloud professionals, allowing its London-based operations to expand three-fold by early 2017.
Benefiting from Cisco’s network-based experience in mobility management, cyber security threat prevention and device management, the bolstering of the Cisco Meraki service is making it easier for IT Managers across the UK to support BYOD while providing flexibility and security for various working practices. The results speak for themselves, with both existing and new Cisco customers adopting the cloud-based technology at a fast rate.
Cisco is also announcing today an investment in Startupbootcamp, one of the world’s leading startup accelerators that will make a significant contribution to launching the next generation of innovative digital companies. For Cisco, strengthening the Startupbootcamp relationship provides even greater opportunities to gain early insight into market transitions, build additional exposure to new innovators, and to drive select Cisco technology themes into programmes run by Startupbootcamp across its sites in Amsterdam, Barcelona, Berlin, Copenhagen, Eindhoven, Istanbul and London. Proudly, Startupbootcamp can boast that 80 percent of its alumni are still trading and have gone on to each receive an average investment of £400,000 from many of the world’s most recognised venture capitalists and angels.
Cisco has a multi-channel approach to innovation in the UK and already successfully runs its own innovation incubator and accelerator, IDEALondon, in association with University College London (UCL) and DC Thomson. Last week IDEALondon celebrated its second anniversary with the news that startups residing in the TechCity-based facility have secured more than £10 million in external funding, as well as building over £2 million in revenue, with 100 jobs created as a result. Additionally, Cisco customers now have more than 50 pilots underway utilising technologies of the IDEALondon inhabitants, helping mature their solutions, but enabling existing Cisco customers to unleash innovation within their businesses that they wouldn’t normally have access to.
Phil Smith, CEO, Cisco UK & Ireland, said: “We see the move to digitise every business as a strong trend in the UK, and yet there are still huge opportunities to improve productivity by further use of digital technology. That is why we are so excited about the investment and growth we are making in the UK and the kinds of skills, jobs and technologies it represents with this investment today.”
Rt Hon Sajid Javid, Secretary of State for Business, Innovation and Skills, comments: “Cisco’s creation of 200 new high value jobs is fantastic news and demonstrates their continued commitment to the UK. The scale of Cisco’s investment in the UK is a clear endorsement of our growing digital economy and underlines that Britain is the place to do business.”
Notes to Editors
Today’s news follows a series of pledges by Cisco to support innovation and growth in the UK.
In 2011 the then Cisco CEO, John Chambers, met with Prime Minister David Cameron and pledged a $500 million investment into the UK economy, primarily through its British Innovation Gateway (BIG) initiative. This commitment supported the government’s ambition to create a world leading technology centre in East London that would generate jobs, diversify the economy and support sustainable growth. It was also designed to ensure an enduring legacy from the London 2012 Olympic Games.
The initial pledge was based on Cisco’s belief that the UK held the potential to become one of the powerhouses of the global technology landscape. This view has subsequently proven itself true over the last 4-5 years.
In July 2015, Cisco committed to investing $1 billion to accelerate UK digital economic growth through multiple projects over three to five years. These included investments in education and skills initiatives, a major extension of Cisco’s British Innovation Gateway programme, and $150m of venture capital investments in Internet of Everything UK start-ups.
So far, this has been realised through the investment in the following areas:
Entrepreneur/Start-ups – Through the creation of a $150 million facility for UK start-up and venture capital equity investments, which will prioritise the development of applications for the Internet of Things across various business verticals, smart cities, and cyber security.
Education –Cisco is planning to further develop its local Networking Academy® education programme to promote innovation and entrepreneurship. There are currently 293 active academies in the UK, reaching 24,637 students.
Innovation Centres – A major extension of UK-wide network of innovation centres, established in the British Innovation Gateway (BIG) initiative; IDEALondon, the National Virtual Incubator and CREATE.
Support for the government’s ‘Northern Powerhouse’ initiative – The addition of new centres of expertise, funded university collaborations, skills investments and the expansion of Cisco’s industry-leading apprenticeship programmes, will support the regeneration of the North. It is also hoped to substantially drive up the Gross Value Added for the region.
Additionally, and from a separate UK foreign direct investment (FDI) track, Cisco has in the past four months announced its intent to acquire two UK businesses; Portcullis, a privately-held UK consultancy company providing cybersecurity services to enterprise clients and the government sector, in September, and Acano, a privately held company based in London that provides collaboration infrastructure and conferencing software, just four weeks ago. These strategic purchases will enable Cisco to broaden its existing security (Portcullis) and collaboration (Acano) offerings, with the talent being acquired deemed as valuable as the technology.
Today’s investment news follows a recent announcement that Cisco is a member of a 20-strong public-private consortium bid that won the right to deliver the UK’s first Internet of Things (IoT) City Demonstrator. This will be located at Manchester Science Partnerships’ city centre campus, and will provide start-ups and SMEs from Greater Manchester and across the UK with access to a world-leading open innovation programme, working alongside leading global companies such as Cisco to develop and test new smart city solutions.
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