The MNC Company, Cisco has announced that it is going to invest $2.5 Million in UK based accelerator Startupbootcamp. The amount looks small for the company, but it is huge if you considers the average amount of the investment made by it. This will also be very beneficial for the trend, where big companies are moving into the ventures and acceleration business.
Startupbootcamp is a London based accelerator, but its founders divide their time between various accelerators. Currently, there are Internet Of things and smart city related startup in Berlin, Amsterdam, Barcelona and Brightlands in the southern Netherlands, in addition to the three FinTech accelerators in London, New York and Singapore.
Cisco has been listed as a sponsor for the programmers in smart transportation and energy of Berlin and IoT of Barcelona. There has not been any official announcement about any specific programme for the funds.
Recently, Cisco has announced that it is going to invest $1 Billion in British tech and will also create 200 new jobs for cloud professionals at Cisco Meraki in London. Phil Smith, the CEO of Cisco’s UK and Irish division said, “We see the move to digitise every business as a strong trend in the UK, and yet there are still huge opportunities to improve productivity by further use of digital technology, That is why we are so excited about the investment and growth we are making in the UK and the kinds of skills, jobs and technologies it represents with this investment today,”