Palestinian Investment Commitment
Ongoing challenges in the Palestinian Territories make it difficult for capable information and communication technology (ICT) companies to grow globally and attract international business.
Starting in January 2008, Cisco invested US$15 million to help stimulate long-term, sustainable growth in the Palestinian ICT industry.
The Palestinian Investment Commitment includes:
- Outsourcing. Cisco Israel outsourced research and development projects to three Palestinian firms, helping them grow and creating a connection between the Israeli and Palestinian people involved.
- Capacity building. Cisco worked with local firms to create a program to train and mentor employees at small- and medium-sized software firms.
- Venture capital, incubation, and seed funding. Cisco contributed more than US$11 million to support entrepreneurs, start-ups, and early-stage ICT companies in the Palestinian Territories.
- Wi-fi network for schools. Cisco and its partners connected more than 40 schools and 12 youth centers to the wireless network.
- Technical training. Sixteen engineers from Palestinian ICT companies completed the Global Technology Acceleration Program, earning valuable Cisco certifications.
- Mediterranean Youth Technology Club (MYTecC). Cisco and its partners expanded this program that combines technology and life skills training to serve 200 youths from the Palestinian Territories.
Cisco Israel outsourced projects to three Palestinian firms, leading them to expand their workforces and attract new business.
Cisco has partnered with a dozen organizations to cultivate economic development in the Palestinian Territories.
Three government representatives from the Palestinian Territories sit on the Palestinian Investment Commitment advisory board.
The U.S. Agency for International Development (USAID) provided funding for MyTecC, incubation funding, capacity building, and school and youth center connectivity.
Nonprofits like Inveneo and MercyCorps supported school and youth center connectivity and capacity building efforts.
The Palestinian Information Technology Association helped select three companies to complete outsourcing projects for Cisco’s Israel office, and a representative sits on the Palestinian Investment Commitment advisory board.
Local Internet service providers helped design and build the school network so they can continue providing affordable connectivity.
Local firms LionHeart and Positeam worked with Cisco to develop a capacity building program that LionHeart will lead going forward.
Members of the Palestinian Investment Commitment advisory board meet in a tent near the border between Israel and the Palestinian Territories.
Cisco contributed various technology solutions for the Palestinian Investment Commitment, including:
- Wireless routers
- Switches
- Cisco IP Communications
- Cisco TelePresence solution
Additionally, the Mediterranean Youth Technology Club (MYTecC) combines Cisco Networking Academy curricula with English language, leadership, and basic business skills training to improve employment prospects and technological capacity for teens from eight Middle Eastern countries and territories.
MYTecC participants develop valuable 21st-century skills and, upon completion of the program, receive a professional certification that opens doors to the job market or leads to additional study in designing, building, and maintaining networks.
In 2011, MYTecC instructors from eight countries and territories gathered in Cyprus to plan training sessions and meet their peers.
The Palestinian ICT firms that took on Cisco outsourcing projects have increased their workforces by 65 percent. Cisco shared its outsourcing model with other international companies, and several have made similar investments.
Through MYTecC, 200 Palestinian youth developed technology and career skills and interacted with peers across the region, fostering a future of cross-border collaboration.
The venture capital invested in start-up and early-stage ICT companies will create jobs and increase the global relevance of the Palestinian technology sector--now and in the future.
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