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Cisco is to create 200 new cloud-centric jobs and invest $2.5m in a London-based global startup accelerator, to support the growth of the UK digital economy.
The jobs will be created within the networking giant’s cloud Wi-Fi and network security arm, Cisco Meraki, as part of its bid to treble the size of the team working there by 2017.
The firm has also pledged to invest $2.5m in Startupbootcamp, a European organisation that seeks to support new business ventures in a range of industries, and give its members access to information about new technologies.
Cisco sees the move as a way to tap into new market trends by giving it early access and insights into the types of startup that are being created in the UK and overseas.
The plans have won the backing of Sajid Javid, secretary of state for business, innovation and skills (BIS), who said the initiatives should help speed up the digitisation of the UK economy.
“Cisco’s creation of 200 new high-value jobs is fantastic news and demonstrates its continued commitment to the UK,” he said.
“The scale of Cisco’s investment in the UK is a clear endorsement of our growing digital economy and underlines that Britain is the place to do business.”
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Phil Smith, CEO of Cisco UK and Ireland, said the company is determined to do its bit to support the growth and development of the digital economy.
“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,” he said.
“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.”
The news reinforces Cisco’s earlier commitment to helping UK startups get off the ground, which saw it promise in July 2015 to invest £1bn in the UK’s technology industry by 2020.