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Chief Technology Officers play important role in the Finnish business

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A survey of almost 100 Finnish Chief Technology Officers (CTOs) has found that 70 percent plan to recruit more personnel in the coming 12 months. The survey was launched at the CTO Forum on 16th December 2010. The CTO Forum also saw the announcement and opening of nominations for the 2011 CTO of the Year Award.

“In addition to increases in headcount, we are very encouraged that over half of the CTOs surveyed plan to increase R&D investment in the next 12 months, and are clearly seeking technology-led growth,” commented Pekka Koponen, the CEO of Spinverse technology consultancy.

Half of the CTOs who responded to the survey are responsible for R&D budgets of over one million Euros, and include Finland’s largest R&D-investors. These R&D budgets are driving future growth, with 90 percent of CTOs planning to introduce new products and services in the next year.

” With this award we believe we can also promote the important role of CTOs as solution seekers for user centric problems, not only as evangelists for the technology push” says director Jari Pasanen from Sitra.

The importance of CTOs to the future competiveness of Finnish companies will be recognized by the introduction of Technology Academy Finland’s CTO of the Year Award. The award will acknowledge a CTO who has enabled their company to add significant value through technology – whether through opening new markets or improving cost competitiveness – and who has built a globally competitive technology portfolio.

The nomination period for the award is currently open, and submissions are welcomed at www.spinverse.com/cto-nomination.

The award will be given on March 16 2011.

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