Davos (Switzerland), 23 January 2018

The Luxembourg government and Cisco have signed a Memorandum of Understanding today in Davos, Switzerland, to speed up digitization in the Grand Duchy. In line with the ‘Digital Luxembourg’ initiative, which is the cornerstone of the country's digital policy roadmap, the government and Cisco intend to concentrate on four pillars: education, cybersecurity, the Internet of Things and fintech.

“Luxembourg has the ambition to be a digital leader in Europe”, says Prime minister Xavier Bettel. "Therefore we need to be at the forefront of technological development in order to embrace the acceleration in digitization. Luxembourg aims at attracting additional major investments allowing the digital conversion of our industry. We are happy to partner up with Cisco in order to further develop the digital innovation and the competitiveness of our country, which goes hand in hand with the creation of new jobs and will at the same time provide job security to existing ones. By modernising our education, we are going to encourage citizens to actively participate in the digital economy."

Chuck Robbins, CEO and Chairman of Cisco commented: "Luxembourg has been a great innovator in Europe for many years, and now is the time to accelerate innovation to achieve the vision of a true Digital Luxembourg," said Chuck Robbins, Chairman and CEO of Cisco. "Cisco is honored to partner with Prime Minister Bettel to help Luxembourg build a sustainable innovation ecosystem by investing in knowledge development, new revenue models and jobs of the future that will contribute to the global digital economy. I applaud his vision and look forward to a lasting partnership."

Four pillars for digital acceleration
The 3 year program that the Ministry of State and Cisco have outlined includes four focus areas:

1. Education: The University of Luxembourg and Cisco will contibute to the modernization of the education system with new technologies and curricula. As in other countries, there is an acute shortage of IT skills in the local labor market. As Luxembourg companies switch to digital business, this shortage will increase further. That is why Cisco will open a Networking Academy at the University of Luxembourg to provide free education to citizens. The Netacad curriculum provides a strong foundation with transferable skills.

2. Cyber security: Cyber security is the cornerstone of digitization and essential for the protection of the Luxembourg economy and data of its citizens. The security of the national infrastructure, critical applications and online services are important issues for the government. As the global leader in cybersecurity, Cisco will assist Luxembourg with advice, expertise and solutions.

3.  Internet of Things: IoT is one of the spearheads for the digitization of society and industry. It offers numerous opportunities for companies and governments as another 50 billion devices will be connected to the internet in the next decade. The Luxembourg government wants to use that potential and invest heavily in technological innovation to make the country smarter. Together with Cisco, it will work to connect what is not yet connected and develop an IoT ecosystem in order to grow the digital economy and create new jobs.

4. Fintech: The financial sector is one of Luxembourg's most important assets and is a major contributor of local GDP. The government is therefore encouraging its financial institutions to embrace new technologies more quickly. One of the objectives in the Digital Luxembourg program provides for the development of fintech initiatives, by both current and new players in this field. Cisco will provide highly secure systems that enable financial service providers to reduce the risk of cyber attacks and improve customer experience.

About CDA
Cisco developed the concept of Country Digital Acceleration to stimulate global digitization. Cisco is collaborating with governments in 16 countries to strengthen digital research and education, stimulate digital entrepreneurship, accelerate innovation, develop new economic clusters and improve national infrastructure. Each CDA programme has been developed to meet the needs of the respective country. So far more than 250 projects have been launched on smarter transport, smart cities, eHealth and connected education. More information at https://newsroom.cisco.com/cda.

About Netacad
Cisco's Networking Academy (NetAcad) develops skills that companies and employees need in the digital economy. Annually, 1 million students take part in the programme in one of the 9,500 training centers. Netacad was founded in 1997.

About Cisco
Cisco (NASDAQ: CSCO) is the worldwide technology leader that has been making the Internet work since 1984. Our people, products, and partners help society securely connect and seize tomorrow's digital opportunity today. Discover more at thenetwork.cisco.com and follow us on Twitter at @Cisco.