{"id":42643,"date":"2023-10-20T15:22:42","date_gmt":"2023-10-20T15:22:42","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/more-startup-investments-coming-after-cisco-invests-in-blackbird-ventures-startupsmart\/"},"modified":"2023-10-20T15:22:42","modified_gmt":"2023-10-20T15:22:42","slug":"more-startup-investments-coming-after-cisco-invests-in-blackbird-ventures-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/more-startup-investments-coming-after-cisco-invests-in-blackbird-ventures-startupsmart\/","title":{"rendered":"More startup investments coming after Cisco invests in Blackbird Ventures – StartupSmart"},"content":{"rendered":"
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Cisco has become the first major corporate investor in Blackbird Ventures, with the move paving the way for more investments in promising Australian startups.<\/p>\n

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While no official amount has been disclosed, a source told Business Insider<\/i> the figure was between about $1.3 million and $5.3 million.<\/p>\n

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Fund co-founder and managing director Rick Baker told Private Media<\/i> that Cisco will be Blackbird\u2019s 96th<\/sup> investor.<\/p>\n

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\u201cFor Blackbird, it\u2019s a little more capital to put to work. That means investments in more startups, and more follow-up investment in our existing portfolio of 14 companies,\u201d Baker says.<\/p>\n

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\u201cSo what it means is an extra amount of capital in the startup ecosystem.<\/p>\n

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\u201cAside from the investment, Cisco is also keen to be more involved in the startup ecosystem. They have a number of different projects in the startup space currently in the pipeline.\u201d<\/p>\n

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Earlier this year, Cisco organised an Internet of Things (IoT) Innovation Grand Challenge<\/a>, with IoT a key part of the company\u2019s growth strategy. Meanwhile, Blackbird has already made investments in high-profile IoT startups LIFX and NinjaBlocks<\/a>.<\/p>\n

 <\/p>\n

Given Cisco\u2019s interest in IoT, its decision to invest in Blackbird could be seen to be an endorsement of Australia\u2019s burgeoning IoT scene, according to Baker.<\/p>\n

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\u201cI think Australia is developing an international reputation in IoT and there\u2019s a lot of action in the area. We currently have two investments in this space, and are looking at more,\u201d he says.<\/p>\n

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Looking towards 2015, Baker hopes the trend of corporate investment in the Australian startup scene continues from two directions.<\/p>\n

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\u201cThere are global tech companies that already do venture startup investments that are starting to see Australia as a worthwhile place to invest. And hopefully we\u2019ll see Australian companies continue and increase their investments in the startup community too.\u201d<\/p>\n


Follow<\/i> StartupSmart on<\/i> Facebook<\/i>,<\/i> Twitter<\/i>, and<\/i> LinkedIn<\/i>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

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