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Cisco to launch 'Cultivated Innovation Model' in China

By Zheng Lifei (China Daily)
Updated: 2009-04-18 10:25

 

US network equipment maker Cisco Systems said on Friday that it will allocate $1 billion to support its newly unveiled "Cultivated Innovation Model" to boost local innovation in China, as part of its $16 billion investment commitment in the country.

The new model, unveiled on Friday, "is aimed at boosting local innovation through capital, technology, process expertise, incubation resources and leadership investments".

The model, Cisco said, will help it and its partners and customers accelerate their time to market span as they pursue new local and global market opportunities.

The world's top network equipment gear maker on Friday launched a joint green technology and research and development laboratory with Tsinghua University, one of the country's top ones.

The lab will develop network-based technologies and solutions for intelligent urbanization development, the company said.

"Our innovation initiative and the establishment of the lab are clear examples of our commitment to the country, and our focus on the long-term growth potential," Cisco's Chief Executive Officer John Chambers said at the unveiling ceremony.

Also as a part of its multiyear innovation and sustainability commitment in the country, Cisco said it will establish a Supply Chain Institute with Shanghai-based Fudan University, also one of the country's top higher learning education establishments.

The $1 billion fund Cisco will use to support the "Cultivated Innovation Model" will come from its $16 billion investment commitment to China, which the US company made in 2007.

The new model, Cisco said, will initially focus on three key areas: intelligent urbanization, new business model initiatives for growth enterprises and next-generation Internet, which includes video and mobility.

"The three areas are in line with Chinese government's agenda and priorities," Chambers said.

The US network giant has already picked up three Chinese counterparts under the new business model.

It will collaborate with Technovator, a building automation and technology company founded by Tsinghua Tong Fang,

The US company has already made investment into DigiVision, a Shanghai-based video technology firm.

And it has also partnered with Ambow, a leading provider of e-learning technologies and education services in China, to explore the business models for connected cities and connected schools.

But Cisco did not provide any financial details involved in the three deals.

The US network giant is also carrying out similar plan in South Korea, according to media reports.

Cisco, which has $34 billion cash hoard, is also planning to set up a research center in South Korea and invest or lend $500 million in the country's technology and telecom sectors, according to South Korea media.

Its investment in the urban planning research center and related projects to exceed the $1.1 billion the company previously invested in its Indian research complex.

Cisco, which makes routers, switches and other Internet equipment, said earlier this year that it will open 140 networking academy institutions in China this year, part of its goal to build 500 such schools in three year.

The company announced in 2007 that it would be committed to invest $16 billion in China in the next few years to expand its procurement, manufacturing and research and development capacity.