Local IT innovation needs to be nurtured if the UK is to compete on a global scale, according to BCS, The Chartered Institute for IT.
The lack of a Silicon Valley equivalent in the UK puts budding IT entrepreneurs at a disadvantage compared with their US counterparts, the institute said.
Research has shown that 60% of UK IT managers believe the UK's competitiveness could be transformed by an IT innovation hub, similar to Silicon Valley in the US.
"If the profession is to command the respect that it rightfully deserves, it must seek to achieve excellence and continue to innovate," said Elizabeth Sparrow, president of the institute.
The sharing of knowledge and experience will be central to this, she said.
In other research commissioned by BCS among 16 to 30-year-olds in London, 81% see IT as a global industry offering global careers.
"As the Chartered Institute for IT, we aim to build a fully integrated education system, linking academic, researcher and practitioner knowledge needs, which will go some way in fulfilling the requirement for a UK innovation hub," said Sparrow.
The institute believes that such a hub will not only be of value to existing members of the industry, but will also act as an incentive for the brightest graduates to join the profession, she said.