Sunday, April 1, 2012

Cisco to Open Innovation Center in Rio de Janeiro

Cisco announced plans to invest over R$1 billion (US$540 million) in Brazil over the next four years to foster innovation, transformation and socio-economic development. The investments will be focused around four main pillars: (1) the opening of a Cisco center of innovation in Rio de Janeiro; (2) investment in a Brazil-focused ICT and digital economy venture capital fund; (3) the expansion of local manufacturing in the country; and (4) intellectual property agreements and partnerships with Brazilian companies and entities to co-develop innovations to better serve the market.

Cisco expects these investments will generate around 800 jobs in Brazil, directly and indirectly through its partner ecosystem.

The Cisco Rio Center of Innovation will support Cisco's global Smart+Connected Communities efforts in Brazil, which aim to implement Cisco technologies via a service-delivery platform to enhance access to Internet-based services, spur economic development, and reduce the cost of government operations.

In addition, Cisco announced plans to expand its local manufacturing in Brazil. The company began manufacturing set-top boxes in early 2011 at a plant in Manaus. This site has already expanded twice since then. With the current announcement, Cisco will expand its local manufacturing operations to include some of the best-selling models of its core routing and switching products, which will be produced in Brazil through one of its manufacturing partners. This expansion will be in compliance with PPB (Processo Produtivo Básico) and will reinforce Cisco's investments in local development.

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