What does an already innovative company like Cisco do more to innovate? What do we need to do differently to influence or shape the next breakthrough that will fundamentally change our industry and Cisco? As we embark on a journey to transform Cisco into a #1 IT solution provider, we know we must innovate more and faster – and spot the next industry-shaping change before it catches our industry off-guard.
We believe one of the key strategies for reinventing innovation at Cisco is to embrace openness. Open innovation is a concept developed and evangelized by leading organizational experts, including Dr. Henry Chesbrough, the Executive Director of the Program in Open Innovation at UC Berkeley. It focuses on how organizations can and should use external ideas as well as internal ideas – and internal and external paths to market1. Open innovation enables us to stay abreast of and shape the next big change that is going to impact Cisco and our industry.
To bring open innovation into Cisco and make it part of our DNA, we have recently launched a new startup innovation program called Cisco Entrepreneurs in Residence (Cisco EIR). Cisco EIR is a program that allows Cisco to directly engage and support early-stage startups working on gaming-changing ideas for the Internet of Things/Everything (IoT/IoE), cloud services, Big Data/analytics and other areas that are strategic to Cisco’s future….
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