According to billionaire Terry Matthews Wales lack business skills to make the most of technology.

He said: “We don’t lack people who are innovative. What we lack is turning that into a commercial operation.”

IT skills are pretty much needed in all departments of a business whether it be to write a report or to put together a spreadsheet.

Also computer need maintaining which creates jobs in the IT sector for technicians which is always great for the economy.

Sir terry thinks that Wales could add £1.5bn to it’s IT sector over the next five years.

Sir Terry said:

“Our hope is that, with guidance, they will end up having very significant technology companies and employ a lot of people.

“We don’t lack well-educated people and we don’t lack people who are innovative. What we lack is the commercialisation.

“As an example, where’s the venture capital?

“My sort of thing here is, if you can tease people with a little cash and people with a lots of experience into being mentors or board members and better still investors, then you get a lot of support [for entrepreneurs].”