US tech giant Cisco has inaugurated Innovation Center Istanbul – the company’s 10th innovation hub globally – in İTÜ Arı Teknokent, a technology park affiliated with Istanbul Technical University, one of the world’s oldest technical universities.
Located on a 4,500-square-foot area, the center will serve as part of a network of Cisco Innovation Centers worldwide. Innovation Center Istanbul is set to tackle the most pressing challenges with innovative and high-tech solutions, while taking into account Turkey's priorities. The center will act as a platform of collaboration, bringing government organizations, customers, and partners together with start-ups, accelerators, universities, research communities, and industry collaborators.
Speaking at the inauguration ceremony, Cisco Turkey General Manager Cenk Kıvılcım said, “We believe in Turkey’s young population, creative brain power, and entrepreneurial potential. Our center will bring innovative and enterprising minds together to create ground-breaking solutions for the future. We aim to support Turkey's PPP and logistics, transportation, and manufacturing investments, while also looking to co-develop applications such as paperless warehousing, hyper-location, and virtual wearables. This facility will enrich our ecosystem, making it an even more attractive environment for start-ups and businesses.”
During his keynote speech at the ceremony, ISPAT President Arda Ermut added, “R&D is a long-term process and might be one of the first areas to be abandoned during tough times. Yet, for every Lira invested in Turkey’s R&D, one can expect twice the amount returned in terms of incentives. The companies are incentivized by the government in numerous ways, including support for the wages of R&D staff. This is an area that the Turkish government places utmost importance on. R&D spending in Turkey has more than doubled over the past decade, yet we still see ample room for further innovative investments.