What’s next for Australia in the race for tech talent?
Will we see more of the same?
A report from Next Big Futures says that in 2017, the country could see an influx of around 2,000 new tech companies in its midst.
But while the government is aiming to fill this gap with more than 100,000 graduates by 2020, the report warns that this is “not a quick fix” as it warns that the “jobless rate in Australia remains around 9.7 per cent”.
This compares to the world average of 12.5 per cent.
The problem is compounded by the lack of available talent, and the fact that the unemployment rate is currently 9.5%.
This means that it is difficult to fill all of the jobs that are available, but a small number of graduates are able to gain a foothold in the Australian tech ecosystem.
For example, the number of companies with at least 50 employees in the Sydney-based cloud computing firm E-Virtues is projected to rise from just over 20 in 2018 to about 150 in 2020.
However, the company is facing competition from more established companies in Sydney and Melbourne, and it may not be able to maintain its growth rate if it can’t recruit the talent that it needs.
Next Big News: How do we get more young Australians into the tech industry?
is the latest in a series of Next Big Trends articles that will explore the current state of the industry and what Australia can learn from it.
The report, by Next Big Horizons, was published online on February 22, 2017.