According to Simon Cowell and Will.i.am, technology innovation is finally sexy with the announcement of an X\u00a0Factor-style TV show for techies.\nThe sexiness of Cowell aside, what this demonstrates is a big appetite for, and interest in, new technology here in the UK, rather more than just short-lived entertainment.\nThe buzz around tech innovation is further evidenced by Amazon\u2019s investment in London.\nLast year Google also announced a big investment in a technology community centre, designed to nurture innovation, and part of the government\u2019s \u00a3400m initiative to create the UK\u2019s Silicon Valley.\nIn the Valley \u00a3400m would barely buy you a parking space, but that\u2019s another story.\nAll good news you might think, and you would be right. Sort of.\nIt is fantastic that people and companies as high profile as the above are recognising the talent potential we have in the UK.\nWhat is less fantastic is that many of our flagship UK companies seem far less inclined to support and nurture UK business, talent and ideas.\nRecently I attended the CIO Summit. These are always fascinating events to attend as it gives you a great insight into what is keeping CIOs up at night.\nThere were some fascinating presentations. Richard Hodkinson from law firm DWF LLP on how he had rolled out Yammer internally to help increase collaboration, and Shaun Mundy from engineers Buro Happold on Agile.\nThe above two were great examples of innovation led by UK CIOs with predominantly UK IT teams.\nAlthough there is a considerable difference in scale between them and the multinationals that emanate from our shores, the intentions of their strategies are beneficial to our economy.\nWithin Britain there are companies whose IT strategies follow a different line: outsource as much as you can overseas, consolidate all your systems with one big vendor and ensure that cost reduction and operational efficiency are the first things you think of when you wake up every morning.\nGreat. But where does this leave customers or employees?\nNow I appreciate that being a business is not to be a charity. But it\u2019s interesting that of the big companies that backed Cameron\u2019s Silicon Parking Space only one of them was British.\nYou could argue that most of the technology companies out there are American and you would be right, but why do you have to be a tech company to back innovation?\nLook\u00a0at what Sky and GSK are doing with startups, for example.\nThe fact is that investing in innovation is not just good for the economy, it\u2019s good for business too. Equally importantly, it could also be actually damaging for both if we don\u2019t invest in it.\nIn America there is a greater understanding of the importance of harnessing innovation and if we don\u2019t invest in our startups then US companies will.\nIt isn\u2019t about not being global. You can be global and still act local.\nWhat also struck me about the progressive and forward thinking speakers I saw was how many of them worked for companies based outside London.\nThis country is London-obsessed. We don\u2019t see what is happening elsewhere. There is also an arrogant belief that London is best and that there is nothing we can learn from our regions.\nThat kind of thinking drives me mad. Our inability to find and harness the talent that exists in Belfast, Sunderland, Leeds or Aberdeen means good ideas and smart businesses are struggling to survive.\nIf you are going to outsource then these are the places you should be outsourcing (or insourcing) to, especially when it comes to software development.\nThe Halifax was doing this in the 1990s and I assumed everyone else would catch on. I\u2019m still waiting.\nI have just realised that I am writing this on what is the first anniversary of the death of Steve Jobs. If there is any man that symbolises innovation (together with brilliant customer empathy and cool marketing) it was he.\nAnd there is no reason at all why the next Steve Jobs shouldn\u2019t be British (ironically of course Sir Jony Ive, Apple design god, is of course British) or why the next Facebook shouldn\u2019t be born in a student\u2019s bedroom in Birmingham or Newcastle.\nThis country is great at ideas but generally not so great at turning them into successful companies.\nIf those companies that have already made it could offer a little more back to those still on the first rungs of the ladder, then a few of those ideas could actually get to change the world.