After surveying nearly 200 members from the Denver and Boulder tech communities, Powderkeg released its 2018 Tech Census for both cities today.
The reports are part of the U.S. Tech Census project, Powderkeg’s data first initiative to measure the growth, vibrancy, and health of tech ecosystems across the country.
These are the third and fourth Tech Census reports released by Powderkeg. The Indianapolis Tech Census report was released in February, and the Cincinnati Tech Census was released earlier this month. In the remaining months of 2018, Powderkeg will be releasing Tech Census data in four Tennessee markets: Nashville, Knoxville, Memphis and Chattanooga.
“The Tech Census gives growing tech companies access to new data and insights that can help them scale faster,” said Matt Hunckler, CEO and founder of Powderkeg.
The report surveyed nearly 100 people in tech in each community, with respondents ranging from founders and employees, to investors and community leaders.
“The information we’ve learned through this Tech Census is invaluable to the Denver and Boulder tech ecosystems,” said Paul Foley, CEO at Colorado Startups. “We have big things happening in our state, and this information is only going to help us grow exponentially.”
Let's dive into 6 key takeaways we had from the 2018 Denver and Boulder Tech Censuses.
- Both communities showcased impressive job happiness, with 94 percent of respondents saying they enjoy their careers working in Denver, and 89 percent enjoying theirs in Boulder.
- People are flocking to Denver and Boulder from outside the state to work for tech companies. According to the survey, 76 percent of tech company employee respondents in Denver grew up outside of Colorado, and 62 percent of respondents in Boulder grew up outside of the state. Maybe it's the mountains, or perhaps it's the tech culture and compensation.
- The majority of Boulder respondents who are employees at tech companies make more than $110k annually, while in Denver the majority hovers between $80k and $110k.
- But, compensation isn't the primary driver for employees, according to the survey. Tech employees across both cities valued company culture above dollars earned. “It’s exciting to see the data backing Denver and Boulder’s focus on worklife balance, which is a really important part of a healthy tech company and community," Hunckler said.
- Boulder is the first city surveyed by Powderkeg where a top reason founders chose to locate their startup there was the local tech culture and community. 27 percent of responding founders said they chose Boulder for its local tech culture and community, tying for first place with founders who chose the city because their social network was there.
- Both cities were in resounding agreement, AI and machine learning are the industries they see growing most in the next five years. 19 percent of Denver respondents chose AI and machine learning, topping blockchain and cryptocurrency at 13 percent. Boulder followed suit, with 35 percent of respondents choosing AI and machine learning, ahead of 13 percent choosing blockchain and cryptocurrency.
For more information, check out the full reports available online, Boulder here and Denver here.
