Company recognized for efforts in Israel and Palestine
Cisco was recognized by the U.S. State Department last week, which presented the company with the Award for Corporate Excellence (ACE). Secretary of State Hillary Rodham Clinton presented the ACE to Cisco CEO John Chambers at a ceremony in Washington, DC.
Since 1999, the ACE is presented annually to recognize the role U.S.-owned businesses play in “exhibiting good corporate citizenship, innovation and advancing democratic principles” around the world, Cisco said in a press release. Cisco was recognized for its efforts to connect the Israeli and Palestinian economies and people, initiatives to enhance technical capabilities, and for creating opportunities for women and youths in Israel and Palestine.
In January 2008, Cisco announced a $10 million contribution to seed job creation and economic development in the Palestinian territories over a three year period through technology initiatives. Cisco also plans to invest $5 million in the Middle East Venture Capital Fund (MEVCF).
MEVCF invests in the information and communication technology sector and looks to create jobs in the West Bank by establishing export-oriented Palestinian technology companies.
Cisco was one of three 2010 ACE winners chosen from a 78 nominations submitted by American ambassadors around the world. Cisco also received the ACE in 2005 in recognition of the company’s Jordan Education Initiative and commitment to the education of Jordan’s youth. Cisco was also named one of 11 ACE finalists in 2009 for the company’s Partnership in Lebanon efforts.
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