Detroit’s Growing Tech Hub: 5 Ways the Detroit Tech Ecosystem Has Evolved
In early December 2022, I joined Tech Elevator as the new market leader for the Detroit coding bootcamp market.
It’s an exciting time for Detroit’s tech community. In fact, Startup Genome’s 2022 Global Startup Ecosystem Report ranked Detroit as the number one emerging startup ecosystem in the world. Trends in recent years have established the city as a growing tech hub to not only watch, but invest in.
Five Michigan startups, Onestream Software, Duo Security, Llamasoft, Rivian Automotive and StockX, have become unicorns (valued at over $1 billion) since 2018. The state of Detroit’s thriving communities have contributed to Tech Elevator’s growing presence in the space as many of our National Live Remote students come from the area.
As we dive further into 2023 and see a growing network of alumni in Detroit, I wanted to highlight some of the ways Detroit’s tech community is evolving and why there is no better time to make a career change into tech with a Detroit coding bootcamp.
1. Increased Investment
In the last seven years, Michigan’s venture capital dollars increased by nearly $3 billion. Detroit itself is attracting more venture capital and private investment in tech startups and established tech companies. The influx of capital has helped to create jobs and drive economic growth in Detroit, further cementing its position as a hub for tech innovation and entrepreneurship.
2. Growing Talent Pool
The city has seen a surge in the number of tech professionals, including a strong pipeline of skilled workers from local universities and coding bootcamps like Tech Elevator. By investing in education and training programs, Detroit is helping to ensure a strong and sustainable future for its tech community.
One way Detroit is investing in education and training programs is through its Sixty by 30 initiative, which aims to increase the number of individuals with a skill certificate or college degree from 50.5% to 60% by 2030.
3. Diverse Industries
The tech ecosystem has expanded to include a diverse range of industries. These industries include financial services, healthcare, the automotive industry and traditional tech sectors like software and hardware. By leveraging the city’s strengths and resources across multiple industries, Detroit is well-positioned to continue its growth and development as a hub for tech innovation.
The recent tech layoffs in Silicon Valley could even benefit Detroit’s automotive industry as they’re still hiring and desperate for talent. Tech-focused companies looking to improve their digital presence could use this as a recruiting opportunity, which would bring even more diverse workers to Detroit.
4. Community Building
The tech community in Detroit has become more connected and collaborative, with regular meetups, events and workshops to foster innovation and growth. These activities provide opportunities for tech professionals to network, share ideas and collaborate on new projects and initiatives. They also help to build a sense of community and a shared sense of purpose among tech professionals.
If you’re looking for more opportunities to join Detroit’s growing communities, then take a look at meetup groups like Detroit New Tech and find more here.
5. Public-Private Partnerships
The city and local businesses have formed partnerships to support the growth of the tech ecosystem and address common challenges including barriers to tech careers. These partnerships have helped to support the development of new technologies, startups and established tech companies for further development in Detroit’s tech space.
Scholarship programs like Michigan Reconnect and Future for Frontliners are increasing accessibility for essential workers and individuals over 25 looking to earn an associate degree or Pell-eligible skill certificate. As these partnerships and resources increase, the barriers to tech careers decrease.
Ready to make a career change and join a Detroit coding bootcamp?
With Detroit establishing itself as a thriving tech hub and investments from venture capital pouring in, people are starting to look at the possibilities of joining this growing community but might not know where to start. Start by gaining in-demand tech skills at a Detroit coding bootcamp to drive your career transformation forward and join the number one emerging startup ecosystem.
You can make this transformation In as little as 14 or 30 weeks with Tech Elevator’s coding bootcamp. If you’re looking to take the next step in your career and think being a software developer is the path for you, then take our Aptitude Test to get started.
Written by Michael Hale Jr., Tech Elevator’s Detroit Market Leader ([email protected])