Cisco aims to invest $200 million in startups this year
will continue to be aggressive with acquisitions. “Our innovation strategy intentionally involves outside innovation... We’ve been innovating well internally, but we also recognise that there is a lot of innovation happening outside the walls of Cisco.”
Salvagno, also the vice-president of corporate development, spoke on the sidelines of Cisco Live, the company’s flagship annual technology event for customers and partners.
“Whether we’re in bull markets or bear markets, you’re going to see us participate, regardless of where the market is. We’ll continue to be out there,” he added.
Cisco’s corporate venture capital arm will actively invest in start-ups within the US, including the Silicon Valley, as well as in other countries, including India, where Cisco has already backed over 20 start-ups. The venture capital (VC) arm has also invested in a few Indian VCS, most notably IDG Ventures and Stellaris Venture Partners.
“I’m very bullish on India. I see our participation, going forward, only increasing. I think that’s reflective of where the market is going, and that’s also reflective of how Cisco is in a position to leverage that,” Salvagno said. “We think that there’s more opportunity for enterprise and B2B plays in India.”
Under the stewardship of Chuck Robbins, who took over from veteran chief executive officer John Chambers in 2015, Cisco has been extremely aggressive with acquisitions— even by its own standards.
Cisco, which has acquired 204 companies since it started out in 1984, has been on an acquisition spree under Robbins.
The writer is in Orlando at the invitation of Cisco.
Cisco’s corporate VC arm will actively invest in startups within the US, as well as in other countries, including India.