Cisco is doubling the amount of venture capital it plans to invest in startups based in India, Chairman and Chief Executive Officer John Chambers said Tuesday.
The increase to $200 million from the $100 million Cisco planned to invest in 2005 is part of a sweeping strategy to expand the networking giant’s presence in India.
Cisco, which employs more than 2,000 people in RTP, opened a technology campus in Bangalore on Tuesday. It covers more than 1 million square feet. In addition to research and development, the campus will be a site for customer support and globalization.
Called “Globalisation Centre East,” the site is part of a $1.1 billion investment Chambers announced in 2005.
Some 3,000 of 3,200 employees in India are already focused on research and development, according to Indian media reports.
Chambers said his plan calls for tripling Cisco headcount in India over the next several years. He also wants more senior executives based in India as the company expands its worldwide sales efforts.
Wim Elfrink, recently named Cisco’s chief globalization officer, is based in Bangalore.
"We plan to make India a globalisation center for Cisco by driving on our emerging market strategy,” Chambers told India’s itVARnews. He also said he wanted “20 percent of top talent in every function to be here by 2012.”
Chambers told Indian media that he expects 60 to 70 percent of Cisco’s growth will occur in emerging markets such as India. While technology markets in developed countries ranges from 1 to 4 percent, emerging markets are growing at a 5 to 10 percent rate, he added.