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Cisco commits $10M to boost innovation in ASEAN

Posted: 11 Sep 2015 ?? ?Print Version ?Bookmark and Share

Keywords:Cisco? ASEAN? Monk's Hill Ventures? innovation? IoE?

Cisco Investments has revealed a $10 million investment into Monk's Hill Ventures' innovation fund for start-up companies in order to fuel innovation and technology disruptions across the Association of Southeast Asian Nations (ASEAN). The initiative will support early stage start-ups in companies that have solutions focused on cloud, the Internet of Everything (IoE), big data and analytics, mobility and enterprise applications.

Monk's Hill Ventures has two primary areas of focus for investing in high-growth technology companies: first, on early stage, series A and B, technology start-ups operating across Southeast Asia and second, on technology companies from around the world that want to expand into Southeast Asia.

Cisco, in addition to providing funding, will also explore ways of sharing technology and go-to-market expertise with invested companies in the region. This investment is aligned to Cisco Investments' strategy to fuel innovation, by investing in venture capital funds that support the transformation of local economies and industries.

"Cisco has a long history of working with governments and organisations in ASEAN to promote innovation and economic development, and we know that the Internet is the platform that enables the delivery of new applications and solutions," said Saleh M. Haji Munshi, president, ASEAN at Cisco.

"Our investment with Monk's Hill Ventures reinforces Cisco's strategy for supporting disruptive innovation, and I'm excited by the opportunities it creates for connecting communities, people, processes, data and things in ASEAN. ASEAN continues to be one of the most diverse, fast-moving and competitive regions in the world with countries like Indonesia, Malaysia, the Philippines, Singapore and Thailand. In addition to attracting multinationals, ASEAN has become a launching pad for new companies; the region now accounts for 38 per cent of Asia's market for initial public offerings," he added.





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