26 Feb 2010

Innovation 'key to IT sector growth'

Innovation in the IT sector holds the key to future growth, it has been claimed.

Roland Harwood, the director of Open Innovation at NESTA, said as investment has slowed as a result of the economic downturn, the onus is now on doing less with more with IT infrastructure and this will play a key part of future growth plans for the industry.

He commented: "Total investment in innovation has slowed down during the recession, however NESTA recently surveyed 153 senior executives from FTSE 100 companies and found that 47 per cent are doing more innovation now."

Mr Harwood added large companies like HP and Orange are making innovation a key part of their ongoing IT improvement strategies.

According to research from e-skills UK, the UK IT and Telecoms workforce now stands at 1.1 million people.

It noted the number of IT and Telecoms professionals employed is expected to grow at an average of four times the UK rate over the next ten years.