In a strategic partnership with Electronics City industries association (ELCIA), Cisco has planned to develop Asia’s first end-to-end ‘Internet-of-Things (IoT) innovation Hub’ in Bangalore. The reason why ELCIA is chosen for this strategic association is credited to its attribute of having official approval for a financial grant from the Govt. of India to boost innovation in product design and manufacturing.
1) In recent years, India has been importing electronic products from China, Taiwan and others. If this trend continues, the bill of electronics imports is estimated to catch up or even surpass the value of oil import bill. The ‘IoT’ hub has been setup at an apropos time when the demand for electronics hardware in India is gauged to increase to $400 Billion by 2020.
The ‘IoT’ hub will provide the necessary infrastructure and testing solutions for the niche and high quality consumer goods. This will in turn reduce the import bill as well as reliance on the foreign countries for any electronic goods. With this, it sets an ambitious goal to reach the magical number of $80 Billion by 2020 in export trade of manufactured electronics.
2) The hub will serve as an incubator to the startups participating in this project besides getting the much needed cash through its IoT innovation fund. Through its ecosystem, it aims to kick upstairs the companies to create applications and solutions that outspread the use of IoT. Besides, the startups also get a chance to participate in the Cisco Global IoT Challenge that offers upto $300,000 in prize money. Cisco has already invested $1 Million in Bangalore based mobile publishing company MobStac this January.
3) Cisco plans to build the smart city through the Living Lab spread across 5 Sq. Km. area in the electronics city. It will engage companies from electronic city to build solutions for City Infrastructure Management (CIM) that encompasses smart parking, smart CCTV surveillance, smart street lighting, smart water management etc.
The solutions will be built through Cisco’s indigenous technology such as Cisco Smart + Connected City Wi-Fi to allow access to public utility offerings. The project will be rolled out in phases where it will be first deployed across electronics city and then phased out to other parts of cities.
It is to be noted that the freshly formed NDA govt. aims to build 100 smart cities in coming decade to capture the imagination of the world.
4) The Bangalore model will be in lines with those of Barcelona in Spain, Nice in France, Sangdo in Korea and Hamburg in Germany. By October, Cisco will be setting up ruggedized equipment connecting it to the data centre.
Following the four weeks of testing, the concept of smart city will come alive by the end of December, according to Cisco officials. According to their own reports, the concept in India can be materialized to the potential of $35 Billion. Globally, the market for the offerings in smart city segment is touted to be $19 Trillion.
5) Feeling the buzz of IoT, Cisco had set aside $100 million for over 10 years as planned investment capital for startups in this niche segment through Cisco Investments. India, one of the key locations in its radar has been allocated a $40 million India-specific fund that is a breakup of $250 million global investment fund.
Cisco Investments currently indulges in two types of investments – one that concentrates on Cisco’s existing core businesses and technologies including cloud, data center, mobility, collaboration, security, routing & switching and the second is investing to support companies which have innovative ideas having the capability to redesign the globe through its concept and vision.