Cisco plans to spend $500 million on the German technology industry-- an investment spread across 3 years and a number of areas, including research, startups and tech professionals.
Dubbed "Deutschland Digital," the investment also covers specific digitisation projects, research projects, an expansion of the non-profit Cisco Networking Academy and venture funding, as well as HR and infrastructure spending. One startup that already benefited from Cisco investment is relayr, a German IoT provider.
Another project funded by the investment is a German Security Centre for Excellence to "build an ecosystem of customers, partners, academia, and start-ups" with a focus on security.
“Germany has long been known for its focus on innovation, and digitization opens up unprecedented opportunities for the country," Cisco CEO Chuck Robbins says. "With our increased investments in education, innovation and security, we can help create a digital Germany that can bring even greater value to the country and its citizens”
Cisco already made a number of European investments-- it pledged $1 billion in spending on the UK, as well as $100m in both France and Italy.