Cisco Selects Toronto for ‘Internet of Everything’ LabMarch 5, 2014
Published Wednesday, March 5, 2014 10:10AM EST
Last Updated Wednesday, March 5, 2014 12:50PM EST
Cisco Systems Inc. has tapped Toronto as one of four cities around the world to house an “Internet of Everything” lab, an investment the company says, over ten years, will amount to as much as $100 million in the city.
Toronto joins Songdo, South Korea, Rio de Janeiro, Brazil and a yet-unnamed German city as sites of the company’s “Internet of Everything” or IoE innovation hubs, Cisco Canada president Nitin Kawale told reporters on Wednesday.
“Toronto is a world class community of creativity and talent,” he said.
The new Toronto IoE Innovation Centre will be located at the downtown RBC WaterPark Place that’s now under construction on Harbour Square, the U.S.-based company said in a release. After it is completed by the spring 2015, Cisco says it will help companies and government agencies to capitalize on opportunities presented by the so-called “Internet of Everything.”