Enterprise networking vendor Cisco today it would open its IoE innovation center in Barcelona, capital of Spain in summer 2016 – targeting smart cities.
Announcing its tie up with the Barcelona City Council, Cisco said the IoE innovation center will provide a platform for research, technological development and new market opportunities related to the Internet of Everything for smart cities.
The new 1,720 SQM Cisco center will be located at Ca l’Alier, a 19th century heritage building at the core of the [email protected] district, as part of the new Smart City Campus.
From 2015 to 2020, Cisco will invest close to $30 million in the facilities’ restoration, innovation lab, IT equipment, and talent acquisition primarily in engineering, application development and research.
The Barcelona IoE center will be one of the five sites focused on IoE. The other centers are in Rio de Janeiro (Brazil) and Songdo (South Korea), while centers in Germany and Canada are under development.
“The IoE center will help companies understand how to generate the value from the IoE, the next phase of the Internet´s development which carries an estimated $19 trillion value creation opportunity in increased revenue, decreased costs, business process improvement and innovative urban services creation by 2022,” said Anil Menon, president, Smart+Connected Communities and Cisco deputy chief globalization officer.