Ontario Minister of Economic Development and Trade Sandra Pupatello, Cisco Chairman and CEO John Chambers and Cisco Canada President Nitin Kawale, recently pledged support for efforts to generate a long-term investment of expertise and...
August 24, 2011
Ontario Minister of Economic Development and Trade Sandra Pupatello, Cisco Chairman and CEO John Chambers and Cisco Canada President Nitin Kawale, recently pledged support for efforts to generate a long-term investment of expertise and technology for the Province of Ontario.
In a memorandum of understanding the provincial government and Cisco Canada intend to develop a collaborative framework for innovation and “sustainable economic development” in health and wellness, energy, smart+connected communities, education and economic cluster development.
The collaboration with Cisco is the latest in Ontario’s ongoing initiatives to partner with private industry to facilitate solution innovation and commercialization, increase research and development and make better use of the province’s broadband capacity, the organizations said in a release.
The two also announced they intend to work together to invest in R&D-focused job development to drive skills development, economic competitiveness and product innovation.
“Ontario has long been globally recognized as a centre of excellence for IT innovation,” said Chambers. “Both the province and Cisco share a dynamic vision for building on the substantial IT R&D capability resident here and we see a key opportunity to join forces to further Ontario’s innovation machine.
“This collaboration and co-investment is an excellent example of how governments can partner with industry to help drive innovative strategies.”
In an interview with CNS, Kawale said his hope is that the initiative will benefit both sides “dramatically” over the next decade, adding one of the goals was to increase the company’s R&D footprint in Canada.
The McGuinty government has committed $25 million to the project, while Cisco, plans to invest upwards of $455 million.