Cisco, a US-based computer server and internet equipment company, has established a $100m corporate venturing fund to invest in start-ups that are developing technologies to advance the “Internet-of-Everything” (IoE), as John Chambers, Cisco chief executive officer, now terms the Internet-of-Things (IoT) sector which covers smart, connected devices.
Speaking at the recent Consumer Electronics Show in Las Vegas, Chambers predicted that the IoE market could be worth $19 trillion in profits and savings over the next ten years. Cisco is also planning to establish IoE innovation centres in Germany, Brazil, South Korea and Canada.
Chambers said: “Cisco is the glue that holds this all together.”