US information technology systems giant Cisco is investing US$30 million in a research centre in Barcelona, Spain, to develop technology applications for Internet of Everything (IoE) in smart cities.
Together with Barcelona City Council, Cisco is creating the Global IoE Innovation Centre, a platform for the development of IoE, defined as the smart networks that support data generated from Internet of Things (IoT) devices.
The new centre will be located at 22@Barcelona district, part of the new Smart City Campus.
Between 2015 and 2020, Cisco will fund the facilities’ restoration, innovation lab, IT equipment, and talent acquisition primarily in engineering, application development and research.
Anil Menon, president of Smart+Connected Communities and Cisco deputy chief globalisation officer, said: “Global IoE innovation centres - like the one just announced for Barcelona – will support customers, partners, start-ups, governments, research bodies and academia.
“These centres represent powerful hubs capable of galvanising innovative thinking into influential new strategies for defining and building the next iteration of our cities and of our world. For instance, as urban services become connected within cities, unprecedented economic opportunities will follow –leading to a new globalised urban services industry.
He added: “By leveraging Internet-of-Everything approaches, this global marketplace unveils great opportunity for innovation – new ways to share information, to extend learning, to distribute expertise and resources, to accommodate need and address challenges.”
Global IoE coverage
The IoE Innovation Centre, due to open in summer 2016, will be one of five Cisco sites focused on IoE and its market opportunities around the globe, including the current centres in Rio de Janeiro (Brazil) and Songdo (South Korea) and two more that are under development in Germany and Canada.
The Innovation Centre will help private and public companies understand how to best generate the value from the Internet of Everything, seen as the next phase of the Internet’s development that carries an estimated an US$19 trillion global value creation opportunity in increased revenue, decreased costs, business process improvement and innovative urban services creation by 2022.