US-based Cisco decided to invest over the start-ups and creating talent pool in India

Cisco, the technology giant of the U.S. which has over 10,000 employees in India, has announced to invest an amount of USD100 million for funding the early and growth stage start-ups and to training around 2.5 lakh people across the next generation technologies such as Internet of Things, cloud, smart cities, e-governance, security, etc. in India by 2020.

In order to fulfil this aim, the company is collaborating with the state governments for initiating the setting up of innovation labs in the country so as to contribute towards the digitisation of India.

Further, as per Cisco’s plan of creating a channel of 2.5 lakh skilled students in the country, the company will be setting-up 6 innovation labs, 3 centres of expertise, skilled investments as well as funded university collaborations under the CDA Programme (Country Digitisation Acceleration), which deals in providing strategic investments to the selected countries in order to boost up the goals of the government and motivating the economic growth of these countries.

Earlier, the company had also invested in close to 25 companies in the country.

TechSci Research depicts that the growing wave of IoT, cloud and IT security in the country would require a quality talent for the successful completion of the planned projects by the government as well as organizations. Cisco initiative would help the technology ecosystem to grow at the rapid pace.

According to recently published report by TechSci Research, “India Internet of Things (IoT) Market Forecast and Opportunities, 2020” IoT market in India is projected to grow at a CAGR over 28% during 2015- 2020. Planned government projects such as smart cities, smart grids, smart transportation, etc., are expected to be the major revenue generating sources for the IoT solution providers in the years to come. Further, another published report by the consulting and market research firm, “India Cloud Computing Market Forecast and Opportunities, 2020”, the market for cloud computing services in India is projected to grow at a CAGR of over 22% during 2015-2020. Increased government spending on National Optical Fibre Network (NOFN) and various e-governance portals, coupled with growing acceptance of cloud services in SME segment is expected to drive the market for cloud computing. SaaS is set to top the charts as the largest cloud service segment, occupying over 40% share in the market by 2020.