Later this week, Powderkeg unveils the first Denver and Boulder Tech Census Reports. Part of the U.S. Tech Census Project, these reports deliver a wealth of data that shows founders, investors, and tech professionals across the country where Denver and Boulder’s greatest growth opportunities are.
“What I like about the Boulder-Denver startup community is that it’s smart enough to be its own thing,” says serial-entrepreneur-turned-investor John Ramey. “It’s not just trying to copy Silicon Valley.” Ramey would know, having success in the Valley with ventures such as iSocket before settling in Boulder. And he’s not alone in championing the local ecosystems.
“I talk to people from the Valley and I tell them that there’s a discount when they come here because their capital goes a lot further than it does in the Valley,” says Jeffrey Nathanson, president of 10.10.10.
Here’s a sneak peek at the data that has people like Ramey, Nathanson, and so many others excited about Boulder and Denver.
What the Denver and Boulder Tech Communities Have in Common
People love working in both: A landslide 94 percent of Denver respondents said they’re enjoying their tech careers, more than any other Tech Census to date. Boulder trailed closely at 88 percent. Plenty of factors go into this, but each city’s emphasis on weaving work-life balance into its tech culture plays a huge role. The Rocky Mountains, a thriving microbrewery scene, and more beckon everyone to get out and play.
“We are a place where you can come and live a high quality of life, raise a family, work on cool and innovative things, and yet still get away from everyone and everything,” says Toma Bedolla, co-founder and CEO of House of Genius.
Each attracts talent from outside of Colorado: Denver in particular attracts tech professionals with 76 percent of respondents growing up outside of the state. Boulder shows strong numbers, too, with 62 percent of respondents from outside of Colorado. Those numbers reflect not just robust opportunity in the tech industry, but cultures that emphasize work-life balance.
“I think having a work-life balance in Boulder and Denver is a real asset to companies because you get more interesting people,” says Verity Noble, COO of Simple Startup.
The present and future look bright: In both cities, nearly 10 percent of startups surveyed grew more than 180 percent in 2017, while around 20 percent reported more than 80 percent growth. Respondents to both surveys see AI and machine learning as the sector primed for the most growth over the next five years.
What’s Unique About the Denver and Boulder Tech Scenes
Similar yet distinct core values: The Denver and Boulder tech communities each identified “give first” as part of its top three core values. That’s not surprising. Tech professionals along the Front Range use the #GiveFirst hashtag so prolifically, Brad Feld even worked it into the title of his upcoming book, “#GiveFirst: A New Philosophy for Business in the Era of Entrepreneurship.”
But after that, Denver respondents identified “inclusion” and “collaboration,” whereas Boulder respondents picked “openness” and “community.” Though they’re similar, it’d be a mistake to treat those values as synonyms. Each city has a distinct tech community both culturally and demographically, and their differences impact who they attract.
“Boulder doesn’t quite have the hustle and bustle of Denver,” says Damon Delgado, chief solutions officer at 303 Software. “Boulder has that really hometown culture feel, which can be nice.”
Boulder’s culture gives it a competitive advantage: Boulder achieved two firsts in the U.S. Tech Census project. It’s the first city where founders ranked the local tech culture and community as the number one reason they chose Boulder for their startups. Also a first: Employees chose it for the same reason. Boulder has built a culture that many want to be part of.
There’s room for improvement, though. Nearly 60 percent of respondents disagreed with the statement We have a diverse community. “Diversity and inclusion is where we need to focus a lot of effort because it will impact so many other things, like how companies grow and how successful they become,” says UB Ciminieri, chief strategic connections officer and executive talent consultant at Jobber Group.
Denver’s frontier legacy benefits diversity and inclusion: Of all the communities surveyed in the U.S. Tech Census to date, Denver shows the highest rankings for diversity, inclusion, and collaboration. More than half agreed with the statement We have a diverse community. Agreement bounced up to 73 percent for We have an inclusive tech community.
“Maybe it’s the cowgirl mentality, or the fact that the state of Colorado had the first U.S. senators who were women, but there’s something about this state and this frontierism that feels really promising for women,” says Dr. Virginia Santy, founder and CEO of Executive Suite Communication.
First access to the complete Tech Census Reports
The Denver and Boulder Tech Census Reports go live Thursday, October 25th. Those who want first access to the full data can sign up to receive the free reports as soon as they publish. Visit the Denver Tech Census or Boulder Tech Census page to learn more.
