tom hopcroft: state of the tech economy key findings

@2016 MASSTLC ALL RIGHTS RESERVED

State of the Tech Economy

Tom Hopcroft, President & CEOMass Technology Leadership Council

June 21, 2016


INDUSTRY

GOVERNMENT

INVESTORS

ACADEMIA

ENTREPRENEURS

Key Facts:Industry Assn. – IRC 501(c)(6)500+ Company MembersStart-ups to EnterprisePulse of Technology:

Big DataCloudIoT

Ed Foundation – IRC 501(c)(3)

MobileRoboticsSecurity

©2016 MASSTLC ALL RIGHTS RESERVED

Industry’s Voice for Tech in MAMassTLC is the state’s largest non-profit

tech group

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Tech is a Major Driver of MA Economy

Tech Underpins 35% of MA Jobs Tech Underpins 46% of MA Payroll

Tech Underpins 31% of MA GSP Tax Resulting = 16% of MA Budget

Source: MassTLC 2016 State of Technology Economy ReportAnalysis conducted for MassTLC by the UMass Donahue Institute on 2016 Cyberstates data with economic impact calculations based on 2013 IMPLAN model for Massachusetts.


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MA is well positioned to lead…



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…but talent remains the #1 constraint

Tech Sector Growth Underperforming MassTLC 2020 Challenge of 100K New Jobs this Decade

Current ratio of tech job openings to graduates

Source: MassTLC 2016 State of Technology Economy ReportAnalysis conducted for MassTLC by the UMass Donahue Institute on 2016 Cyberstates data with MassTLC 2020 Challenge targets rationalized with new federal data codes.


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Talent is distributed evenly in populations, Unfortunately,

opportunities are not.Just bringing participation of women up to that of men would bring another 78,000 workers off the sidelines and into an economy that pays twice the state average

Source: MassTLC 2016 State of Technology Economy ReportAnalysis conducted for MassTLC by the UMass Donahue Institute on 2016 Cyberstates data plus research conducted by MassTLC & Bentley on women on MA Tech boards.


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2014 » 19 Teams » 76 Girls2015 » 28 Teams » 112 Girls2016 » 39 Teams » 156 Girls

Changing the Equation

for Girls in Tech MassTLC Showcase Winners

Honored at MA State House

TRANSFORM A Purpose-Driven Conversation & Idea-a-thon

November 17, 2016www.masstlctransform.org

TRANSFORM is a purpose-driven experience designed to develop actionable outcomes with breakthrough insights for industry, academia, and policy leaders to address the social, political, and economic structures of our times:

• Population Demographics & Urbanization• Automation, Labor Markets, Talent, Skills• Democratization of Regulated Industries• Telling Our Story: Boston’s Brand Identity


May 17, 2016

“[F]ailing to bring more women and minorities into the tech workforce

could hurt the state’s attempts to stay ahead in a growing national race to

build local tech hotbeds.”