Cisoc will be investing about $500m to the UK on big projects into areas in East London Tech City. Cisco’s goal is develop a competitor to Silicon Valley inside this British capital. There have been many start-up companies in the Olympic Park and Shoreditch. The plan includes technology companies like Facebook, Google, Vodafone and Intel investing around this area, and building technology networks that links innovation hubs across the UK. Cisco will also be funding an I-Prize innovation contest geared to reward small and medium-sized enterprises (SMEs) that creates innovative business ideas that contributes to the East London Tech City project.