Hey, gig.u is an effort to get high speed Internet connectivity to the communities around university centers.
The deal is that, in practice, it attracts startup companies in such areas, creating jobs, sometimes growing into large companies with even more jobs.
Think about about all the small startups in Silicon Valley, which has a collection of university centers.
Higher speed Internet connectivity is really desirable for companies focusing on "big data", like in bioinformatics and genome research. Their experiments can generate huge amounts of data, and researchers in different university communities need higher speed connections to effectively work together.
This also matters which it comes to industry focused on video, which includes live job training.
It really is a big deal, check more here.