US-based network equipment manufacturer Cisco will invest $100m in France-based startups as part of a private-public partnership, French prime minister Manuel Valls’ office stated on Monday.
The agreement will also involve the French government partnering with Cisco to improve networks and cybersecurity, and to developer smart cities and smart grid technology.
Cisco will also provide training for around 200,000 people over the next three years and will fund academic research through the establishment of several chairs of excellence.
Cisco’s corporate venturing unit, Cisco Investments, currently has $2bn under management and holds stakes in more than 80 startups. It is also a limited partner in more than 35 funds across the world.