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News

Growth ambitions should be balanced with good policies

Sophos : 11 December, 2009  (Technical Article)
Sophos comments on the boost to the UK Innovation Investment Fund, advising that sustainable growth should be linked to policy and regulation development
Following news that private investors have committed £175m to the UK Innovation Investment Fund, James Lyne, Office of Chief Technology Officer, Sophos makes the following comment.

"Earlier this week, the government announced its intention to drive investment in the technology industry. This increased investment in technology was intended to increase leverage in core public services, develop jobs and reduce costs through efficiency. Of equal importance, the drive for development in this industry could be important in accelerating the UK's economic recovery. It is reassuring now to see private investors joining the government's ranks in trying to develop the UK's information and technology market. The technology industry is an attractive choice for investors, with existing strong growth and recognised relevance in the future global economy. Other countries can also be seen to be aligning themselves to play on this new stage and this is an area we should be encouraged to lead."

"However, as much as this push is to be commended we must also balance ambitions for growth with policy, regulations and practices that deliver sustainable economic growth. Recent challenges in the finance industry demonstrate the dangers of a lack of moderation, a mistake none are keen to repeat. More enterprises in information and technology will increase the surface area of attack for cyber criminals, who may pose a threat to confidence and therefore the stability of these enterprises. As much as global technology is a significant industry, so too is the criminal enterprise of information theft, malware and hacking. To ensure stable development of enterprises backed by this fund we would strongly encourage security to be an inherent part of the package offered to develop enterprises. Increased development in a sexy industry is something for us all to look forward to, bringing with it the development of jobs and vital increases in efficiency; we must however help enterprises to do this in a sustainable and secure way."
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