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Cisco to double its investment in French start-ups



Cisco to double its investment in French start-ups

 The American network giant, Cisco, announced last Thursday that it intends to double its investment in French start-ups increasing it to $200 million or 10% of its annual investment in start-ups worldwide.


“France is the future”

John Chambers, one of Silicon Valley’s most renowned business leaders, is shouting from the rooftops that France is now THE country for start-ups. The ease with which innovative companies can be found here lies behind the decision to speed up his plan. “I’ve met a lot of entrepreneurs. It’s like being in Silicon Valley (...) France is the future” the CEO of the group worth $50 billion stated.

French start-ups “are going to transform our lives”. John Chambers is convinced of France’s potential: “A generation of French start-ups exist that are going to profoundly change our life styles”. Last February, Cisco already put $100 million on the table and it was the first time that it had invested in France. In the space of six months, the group has already released half of this amount. And it is now announcing twice this figure.

Source: L'expansion-L'express