SOURCE: LearnLaunch

LearnLaunch

September 21, 2016 11:41 ET

UPDATE - New Research Highlights Edtech as Massachusetts Economic Engine: 25,000 Jobs in 430 Companies

LearnLaunch Publishes First-Ever Massachusetts Edtech Workforce Report Measuring Growing Economic Impact on Bay State

BOSTON, MA--(Marketwired - Sep 21, 2016) - LearnLaunch, a startup program at the forefront of education technology, released the results from the first-ever Massachusetts Edtech Workforce Report. This independently researched report shows that the booming education technology industry in Massachusetts supports 25,000 jobs in 430 companies -- 90% of which report are adding positions and hiring employees -- and has a significant and increasing impact on the local economy.

"Massachusetts has long been recognized as a leader in both education and technology innovation," explained LearnLaunch co-founder Eileen Rudden. "The Edtech Workforce Report quantifies, for the first time, the growing importance of edtech to the state's economy, as well as to its overall education success. The data is clear: edtech companies are starting up, moving to Massachusetts, attracting investment, and adding jobs. Edtech is an increasingly vital part of our innovation economy."

The Workforce Report explores the booming edtech ecosystem in Massachusetts, anchored by established education companies Houghton Mifflin Harcourt, Pearson, McGraw Hill Education -- which opened an R&D lab in Boston -- and Cengage Learning -- which moved its global headquarters to Boston. Technology giants -- but newcomers to education -- Microsoft, Google, and Amazon all maintain education teams and projects in the area. Other important players in the edtech ecosystem include Curriculum Associates, Rosetta Stone/Lexia, and LEGO Education, which moved the Denmark-based toy giant's educational business to Boston in 2015.

Edtech's global nature is helping fuel the Bay State's education technology growth. Edtech companies have started coming to Boston from digital hot spots like Ireland and Israel, the booming markets of Asia, as well as the rapidly evolving economies of the Persian Gulf. International investors are supporting Boston-based edtech companies. The edtech acquisition arm of Chinese gaming giant Net Dragon and a part of the investment office for Japanese leader EduLab Group are based in Boston.

"The Baker Administration is committed to fostering a culture of innovation and entrepreneurship across Massachusetts," stated Katie Stebbins, Assistant Secretary for Technology Innovation and Entrepreneurship. "LearnLaunch's Edtech Workforce Report quantifies the importance of the education technology industry to the Commonwealth's strong economy. The 25,000 local jobs currently supported by more than 400 edtech companies will only increase as the industry itself grows."

"Edtech is still in its early stages, so we expect to see continued accelerating growth," commented LearnLaunch co-founder Jean Hammond. "The parallels between today's edtech industry and the healthcare-life sciences industry of the last century are intriguing. Like edtech, healthcare began as a cottage industry. Over time, healthcare emerged as a pillar of the Massachusetts economy, contributing 18% to the state's GDP. This Workforce Report illustrates that edtech could develop into a similar industry, serving as a cornerstone in Massachusetts' innovation economy, while delivering important educational advances to the area's students."

The Edtech Workforce Report is a step in strengthening Massachusetts' edtech ecosystem. In the months ahead, LearnLaunch will convene a taskforce of local edtech leaders to collectively address this important economic opportunity.

About LearnLaunch
LearnLaunch is dedicated to connecting, supporting, and growing the education technology ecosystem to drive innovation and transform learning. We are a vibrant community, delivering educational events, a selective accelerator program and a collaborative co-working space. We are based in Boston, a world education hub. For more information, visit www.learnlaunch.com and follow LearnLaunch on Twitter at @learnlaunch.

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