Computer networking giant Cisco is set to invest $US15 million in an Internet of Everything Innovation Centre in Australia.
The Innovation Centre is aimed at catalysing and showcasing Internet of Everything (IoE) innovation and development. It will bring together customers, industry partners, start-ups, application developers, accelerators, government organisations and universities.
IoE is the intelligent connection of people, processes, data and things to the Internet. According to Cisco consultants, it stands to deliver US $19 trillion of economic value worldwide over the next decade.
Because of its proximity to Asia and its engineering expertise, Australia is one of the countries with the greatest potential to benefit from IoE. Cisco estimates the potential IoE Value at Stake for the Australian economy to be more than US $74 billion over the next 10 years.
The centre is scheduled to open later this year and will include locations in Sirca, a financial research centre in Sydney, and at Curtin University in Perth. It will focus on the resources, agriculture and astronomy industries.
It will be one of eight around the world. The others are to be located in Rio de Janeiro, Toronto, Songdo, Berlin, Barcelona, Tokyo and London.
“Australia is already highly regarded globally for its resources and agriculture sectors and is well-placed to serve the rapidly growing Asian markets, and the Australian government has prioritised these sectors accordingly. Cisco has been involved in the Square Kilometre Array (SKA) project for over five years,” Cisco Senior Vice President Asia Pacific and Japan Irving Tan said.
“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.”
The Cisco IoE Innovation Centre, Australia, will be a platform for technology ideas and open innovation which will help develop and test new solutions.