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Cisco Canada chooses Toronto for $150 million investment

Cisco has chosen Toronto as the base for its innovation hub, investing in venture-capital funds, incubators and companies to the tune of $150 million.  They employment spin-off is estimated to be 1,700 new jobs in the province of Ontario.

Canadian firms have previously criticized the lack of venture capital in their home country but Cisco is now challenging other industry leaders to follow their lead.  Cisco recognized the deep talent pool in information technology management and engineering fields, as well as the innovative businesses currently operating in Canada.

Cisco Canada will spread its investment out over the next ten years and among various businesses engaged in progressive and innovative projects. The company has also played a significant role in the new Toronto IoE Innovation Centre at RBC WaterPark Place, scheduled for completion in 2015.

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