Chief Technology Officer is often considered to be the second person in the whole company. And rightfully so! CTOs take care of the corporate strategy, business models and hiring the best tech talent as well as taking care of all the technology needs of the company.
Due to the vast skill-set and responsibilities a CTO takes on, the cost of hiring a full-time CTO is very high. Today more and more companies turn to the services of an interim CTO. It has become the most effective strategy for startups and a highly influential factor for new businesses.
With an interim CTO, instead of one person, you get a whole team of professionals often for much less money.