INTEL CTO Justin Rattner marks 5th anniversary of Innovation Value Institute

Organisations no longer have to ‘shoot in the dark’ with regard to their IT investments as the IT-CMF framework from the Innovation Value Institute (IVI) has established itself as “an invaluable evaluation and strategic tool for companies and entities throughout the world across all industries and sectors”, Intel CTO Justin Rattner said today as IVI marked its 5th anniversary at a function in leading Irish university, NUI Maynooth. 

Mr Rattner said the development of the IT-CMF was a priority for Intel and was a unique contribution to securing the future role of IT in the workplace.        

IVI now has more than 75 members throughout the world, including 14 of the Financial Times’ FT Top 60 companies.  Patron members include BP, Microsoft, Chevron, SAP, Cisco, Fujitsu and Merck.

IVI was established in 2006 as a joint venture between Intel, NUI Maynooth and The Boston Consulting Group.  It wanted to address a number of significant business issues including:

• The lack of a comprehensive holistic framework to allow all organisations across the private and public sectors make multi-million dollar investment decisions regarding IT with any degree of certainty.

• The inability to measure the value of these investments to the business over time.

• Limitations to career progression of CIOs and senior IT professionals in many industries, despite an ever-growing reliance on IT in all companies and organisations.

Mr Rattner said what made IVI unique was the fact that it was established on an open-forum footing with all member organisations contributing funding and personnel to the institute.  “This has allowed for unparalleled collaboration and sharing of information resulting in incredibly rapid validation and implementation of new ideas – something that is of vital importance in our area”.

In the past five years IVI has achieved a number of significant milestones:

• Moved from start-up to an international organisation with over 75 members across the US, Canada, Australia, New Zealand, Europe, UK and Ireland.  These organisations have all adopted the IT-CMF to drive significant enterprise-wide change. 

• Trained more than 500 CIOs and leading IT executives from over 20 countries through its specialised education courses.

• Established as a Technology Centre by the Irish government in 2009

• Appointed by the EU to survey senior IT professionals across the continent with a view to strengthening certification and improving career mobility across the continent.

• Developed specialised IVI research into specific industry issues, including Sustainable ICT, Cloud Computing and security.

• Built academic connections with international institutions including SEI Carnegie Mellon, Bentley University, US Air Force Academy and the University of Gothenburg.

Some key savings reported by members adopting the IT-CMF include:

• 25% improvement in IT capability, for a 10% reduction in overall spend (Intel)

• 8% saving in total operating budget for Technology Innovation and 20% saving of total budget for experiment execution (Merck)

• 96% reduction in set-up working time for new servers (Axa-Tech)

• 20% saving on global travel budget through implementation of IVI SICT protocols (Mainstream Renewable Power)

IVI founder and Director of Intel Labs Europe, Professor Martin Curley said the contribution of IVI could be measured by the number of leading organisations throughout the world who had embraced it to help drive their decision making.  “This is an incredibly complex problem for senior IT management throughout the world but it also presents amazing opportunity.  By coming together and tackling IT-specific challenges in a collaborative manner we have been able to effect change in organisations in every sector”.

IVI Chairman and President of NUI Maynooth, Professor Philip Nolan said academia had provided an important hub for the furthering of IVI and IT-CMF.  “These are challenges that cannot be adequately addressed in the silo atmosphere of individual organisations.  IVI recognised early that academic rigour, as well as training and education expertise needed to be applied to drive these solutions for industry.  At NUI Maynooth we are committed to tackling real-world problems and are proud of the impact IVI has made throughout the world”.

IVI is also hosting the European Design Science Symposium at Intel’s campus in Leixlip, Co. Kildare tomorrow, Friday October 14th.  With over 200 participants drawn from both academia and industry, this is a unique opportunity for Design practitioners and scholars to exchange ideas and push the frontiers of a topic that is of strategic importance for Ireland.

Prof Philip Nolan, President NUI Maynooth, Minister Sean Sherlock, Mr Justin Rattner, Intel CTO and Prof Martin Curley, IVI founder and Director of Intel Labs Europe.

Ends                                                                                       13th October 2011

Further information from:

NUI Maynooth

Deirdre Watters                                                                       +353 1 86 803 5274