Cisco Systems, Inc. is an American multinational technology conglomerate headquartered in San Jose, California, in the center of Silicon Valley. Cisco develops, manufactures and sells networking hardware, telecommunications equipment and other high-technology services and products Cisco Systems was founded in December 1984 by Sandy Lerner, a director of computer facilities for the Stanford University Graduate School of Business. Lerner partnered with her husband, Leonard Bosack, who was in charge of the Stanford University computer science department's computers. The annual Cisco Global Problem Solver Challenge aims to recognize new business ideas that leverage technology for social impact from student entrepreneurs around the world. The Challenge is open to students and recent alumni from any college or university. The prize money will help accelerate the adoption of breakthrough technology, products, and services that drive economic development and/or solve social or environmental problems.