Cisco shows Brazil the money

The investment represents 1 billion Brazilian reals over the at once four years. The monies will be spread among the opening of a Cisco center of technology in Rio de Janeiro; an investment in a Brazil-focused information and communications research, and digital economy venture capital funding; the expansion of local manufacturing; and joint development with Brazilian companies.

The Center of Technology in Rio de Janeiro will develop new research tailored for Brazil's needs, just as urban development, sports and entertainment, public safety and security, education and health care. Cisco expects to inaugurate the center in the second half of 2012, and additional projects addressing oil and gas, and utilities will be added in 2013.

The urban development projects will be aligned with Cisco's Smart+Connected Communities initiative to sell research to modernize the government's information infrastructure and reduce operational cost.

Cisco said it is as well looking to create a venture capital fund to invest in new Brazilian innovation companies and entrepreneurial activities. Cisco said it will invest up to 50 million reals to be combined with local investors partnering with the fund.