View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Hardware
August 12, 2013

UK ‘lacks investment in technology innovation’

53% of business leaders believe UK research and development requires heavier investment.

By CBR Staff Writer

More than half the UK’s business leaders believe the country is falling behind China and the US in driving technology innovation, according to a new report.

A totsal of 56% of survey respondents believe China and the US have boosted their investment in technology more than the UK has, says Accenture’s latest report.

A further 68% of the 263 respondents revealed their firms had invested in innovation during 2012 and have plans to continue doing so in the following 12 months.

Accenture UK and Ireland MD Andrew Poppleton said: "A tough economy over the past few years has led businesses to concentrate on cutting costs and improving employee productivity, making the focus on innovation insular."

However, the report said that with early signs of growth in the economy, businesses must now concentrate on their customers and innovate for growth.

Half of those surveyed believe it is important to be innovative for their customers, while 65% considered being innovative for their employees.

53% of business leaders believed the UK’s research and development in technology requires more investment, while about 49% reported that firms involved in innovative research should be offered better tax breaks.

Content from our partners
Scan and deliver
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester

Over 42% and 41% of respondents respectively considered that increased funding for universities for technology research and pulling more people into studying subjects based on science, technology, engineering or maths would assist in driving UK innovation.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.