EvoNexus, the CommNexus incubator for high-tech startups, has launched a joint incubation program sponsored by Cisco.
The program — called CiscoEIR@EvoNexus, short for Cisco Entrepreneurs in Residence at EvoNexus — will combine the global reach and support of Cisco with EvoNexus’ successful incubation model, CommNexus said.
The Cisco innovation program helps selected business-to-business startups accelerate their products and business development by providing financial support, use of co-working space, access to mentors and opportunities to collaborate with Cisco and its partners, Cisco said.
“EvoNexus, with its structured incubation program and record of fostering successful startups, is an ideal collaborator for Cisco,” said Tom Yoritaka, managing director of Cisco Entrepreneurs in Residence. “We expect CiscoEIR@EvoNexus to play an important role in accelerating the growth of early-stage startups in San Diego and advancing the Internet of Everything, cloud computing, big data, enterprise mobility and other strategic areas for Cisco.”
EvoNexus has 31 companies in incubation and 29 graduates, which have helped create more than 1,000 jobs and raised more than $541 million in funding and outcomes since EvoNexus’ inception in October 2009, according to CommNexus.
“Cisco is an iconic Silicon Valley company with a long history of influencing technology innovation on a global scale, and many companies can trace their lineage back to Cisco,” said Rory Moore, CEO of CommNexus.
Cisco and EvoNexus invite San Diego area entrepreneurs to apply for the next round opening in late July.
Companies admitted into CiscoEIR@EvoNexus will receive financial support in the form of payments and benefits from Cisco, access to mentors and opportunities to collaborate closely with Cisco business and engineering teams. Other benefits from EvoNexus include free office space in the downtown San Diego or La Jolla office locations, mentorship and other support, CommNexus said.