EvoNexus, the CommNexus incubator for start-up companies in the high-tech sector, announced on Tuesday the launch of a joint incubation program sponsored by Cisco (Nasdaq: CSCO).
Named CiscoEIR@EvoNexus, the incubation program will combine the global reach of Cisco with EvoNexus' incubation model. The mission of CiscoEIR@EvoNexus is to promote opportunities for further technology development in the San Diego area.
Cisco Entrepreneurs in Residence (CiscoEIR) connects early-stage business-to-business startups with Cisco and its global partner system, helping selected startups accelerate product and business development.
"Launching CiscoEIR@EvoNexus allows Cisco to tap into the ideas and talent of the entrepreneurial community in the San Diego region," said Tom Yoritaka, managing director of Cisco Entrepreneurs in Residence. "EvoNexus, with its structured incubation program and record of fostering successful startups, is an ideal collaborator for Cisco."
Yoritaka said he expects the new program to play a role in accelerating the growth of early-stage startups in San Diego and advancing strategic areas for Cisco, such as cloud computing and enterprise mobility.