Shortage of innovators costs economy 1.2bn

A SHORTAGE of innovators at the helm of Irish businesses is costing the economy 1.2 billion a year, a senior economist said yesterday.

Senior lecturer in economics at DCU Anthony Foley said: “A talent gap at senior levels of Irish business is costing the economy 1.2 billion annually in potential unearned income.

The ability to innovate, one of the key factors in commercial development and survival, is being hampered by lack of skills in key areas such as New Product Development and marketing.”