Cisco to invest US$275m in Turkish tech projects
New centre, programmes and academies in pipeline
Cisco Systems has announced plans to invest up to US$275million in Turkey to promote technology projects in the country over the next five years.
The money will be used to fund a series of initiatives in the country, which include boosting Cisco’s headcount from 80 to 400.
The California, US-based company said it plans to establish a technology innovation centre in Turkey to foster closer collaboration with local companies and partners.
The centre, which will include a lab platform for testing complex new technologies for the Turkish marketplace, will be used to demonstrate the impact technology has on productivity across the different market segments, Cisco said.
Cisco also announced plans to provide networking technology and prototypes to support pilot programmes for rural broadband for education, as well as connectivity for small and medium businesses, towns and local communities.
Other initiatives that the networking firm said it plans to support include setting up 200 new networking academies in the country, and developing an initiative with the Union of Chambers and Commodity Exchanges of Turkey (TOBB) to teach skills for opening and running small businesses.
There are 47 networking academies across the country at present.
Cisco also said it plans to offer localised products.
“Technology is able to drive the productivity and standard of living for communities and countries on a global basis, and Turkey understands the critical importance and transformative impact technology can have on businesses, governments, societies and the overall economic growth of the country,” Cisco Systems president and CEO John Chambers said in a statement.
“Cisco’s announcement about its investment in Turkey supports the country’s entrepreneurial focus and e-transformation initiatives, which are focused on establishing a more connected country and skilled workforce in order to increase productivity and foster innovation, and are vital for Turkey to sustain the same rate of growth it has enjoyed over the past four years,” he added.