BUSINESSES need to be innovative and flexible with their technology to survive and prosper, according to Cosworth F1 general manager Mark Gallagher.

The keynote speaker at the inaugural Guernsey Technology Conference told approximately 150 delegates how Cosworth had to evolve and diversify five years ago and be innovative with its own technology in order to survive.

Before 2006, Cosworth had been a key engine supplier in Formula 1 for 40 years but, as large motor groups such as Honda and Toyota entered the fray, and subsidised the manufacture of their own engines at great expense, Cosworth lost its client base as teams were not willing to pay for something they could get for free from their motor company.

‘As a manufacturer, we were looking at closure,’ said Mr Gallagher (pictured).

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