|[January 11, 2013]
New Study from MITX Showcases the Strength of Digital Innovation in Massachusetts
BOSTON --(Business Wire)--
Massachusetts Innovation & Technology Exchange (MITX) released a
research study focusing on the rapidly growing digital technology
community in Massachusetts. The report maps and highlights the areas of
strength in the digital innovation economy including the diversity of
digital sectors present in the region such as big data and analytics,
marketing software, mobile, and e-Commerce. Researched and written by a
team of second year Babson College MBA students, the report provides
data on the growth and economic impact of companies in the space and
provides insight into opportunities to bolster this important sector.
A similar study conducted by MITX in 2010, using 2009 data, estimated
companies in the digital sector (which includes digital technology,
digital content, e-commerce, digital marketing, mobile and social
technology firms) contributed $27.8 billion in revenue and employed over
87,000 people in the New England region, primarily (91%) in
Massachusetts. This new study, using data from Mass High Tech's database
of companies combined with several other data sources, revealed a 13%
growth in revenue impact to $31 billion, and estimates over 30% growth
in number of jobs associated with the digital innovation industry, over
the course of the past two years.
Debi Kleiman, president of MITX, said: "This report captures how
exciting it is o build digital technology companies in Massachusetts.
There's an incredible set of resources available here: a unique and
strong talent pool, diverse industries driving innovation, a major metro
that is supportive and proactive, and an experienced, knowledgeable
investment community. Expect to see big stuff come from this sector in
2013 and beyond."
The report reveals that Massachusetts has seen a steady increase in
activity and leadership in several areas that indicate growth, including
new technology development and deployment, and VC investment and M&A
activity in the digital innovation sector.
The Babson MBA team notes: "Boston's digital ecosystem is on the move
and growing in virtually all its forms. Through our research, the
strengths of this ecosystem's infrastructure have become readily
apparent and have led us to conclude the sector is poised for future
The study also collected qualitative insight from local business,
venture capital, academic and government leaders, who helped with the
concluding section of the report, a summary of areas to improve upon as
Massachusetts seeks continued growth. Specifically, the study calls out
three recommendations: more focus on talent development including
internships, improved national media visibility for Massachusetts-based
companies and new efforts to help the state's companies get connected to
business development opportunities across the value chain.
To view the report in full, please
visit the MITX blog.
Established in 1996, MITX - the Massachusetts
Innovation & Technology Exchange - is the leading industry
organization focused on the Web and mobile, bringing together the
digital marketing, media and technology community to engage in what's
next and how it will impact the marketing and business worlds.
Connecting more than 7,500 professionals in New England, MITX is a
dynamic community of thought leaders and collaborators in search of
insight, education and opportunity. Creator of FutureM,
MITX is headquartered in Boston, Mass. For more information, visit http://www.mitx.org/.
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