Cisco sees a bright future for Australia in the ‘Internet of Everything’
27 Mar 2015
US technology company Cisco is establishing its eighth global Internet of Everything (IoE) centre in Australia and investing more than A$21 million in training initiatives over the next five years.
IoE is the intelligent connection of people, processes, data and things to the Internet.
According to a recent Cisco study, Australia is one of the countries with the greatest potential to benefit from IoE, thanks to its proximity to Asia, its well-trained engineers and its innovation power.
Cisco’s Australian Internet of Everything (IoE) Centre will be based in both Sydney and Perth, with initial partners being Sirca (a company owned by 40 universities), Curtin University and Woodside Petroleum.
Cisco intends investing US$15 million over the next five years in the Centre, which will bring together customers, industry partners, start-ups, developers, government and universities.
The company estimates that the value of IoE to the Australian economy could be more than US$74 billion over the next 10 years.
‘The aim now with Cisco IoE Innovation Centre, Australia, and its ecosystem of partners is to accelerate innovation and the adoption of the IoE in Australia,’ said Irving Tan, Cisco Senior Vice President Asia Pacific and Japan. Cisco also announced A$21 million in funding for a new program called AUSTEM 2020, which will train over 100,000 Australian tertiary and school students in science, technology, engineering and mathematics (STEM) skills.
The company said AUSTEM 2020 built on Cisco Australia’s ‘long-term commitment to tackle the STEM skills shortage and help create an innovation economy, boost productivity and boost jobs growth.’
‘The Australian economy is in transition, and there has never been a more important time to invest in the programs that will equip students with the skills they need to secure the jobs of the future,’ said Cisco Australia and New Zealand Vice President, Ken Boal.
AUSTEM 2020 includes training of students through the company’s Networking Academy program and a mentoring program that will see 20 per cent of Cisco staff in Australia each provide 20 hours of mentoring, totalling some 5,000 mentoring hours a year. Cisco is an American multinational company headquartered in California that designs, manufactures and sells networking equipment.
PSY Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
