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.