Big Data Booming in Mass., According to New ‘Mass Big Data’ Report
Increase in Companies, Academic Programs, and Patents Highlight Statewide Growth
BOSTON – The Big Data ecosystem across Massachusetts is booming, according to new research produced by the Massachusetts Big Data project at the Innovation Institute at MassTech. The new research, “Massachusetts Big Data Indicators 2015,” highlights the growth in several key categories, including over $2.4 billion in reported private investment that has flowed to Massachusetts Big Data companies and the millions of dollars in federal funding awarded to 194 different projects at Massachusetts institutions for computing and analytics research since 2013.
The research also found increases in several key areas of the Big Data ecosystem since 2013, including the addition of 53 new data-focused companies, 10 new data/analytics-related academic programs, and over 6,000 STEM grads each year, fueling the potential Big Data workforce in the Commonwealth. These new stats are captured in an infographic published in the new report, which is available for download here.
“Our research shows that Massachusetts companies are taking advantage of the business opportunities that exist in the data space, as seen by the across the board growth in new businesses, funding, and patents,” stated Pat Larkin, Director of the Innovation Institute at MassTech. “The research also outlines that Big Data is truly a statewide phenomenon, from MassMutual’s new data science center in Amherst, to new academic programs in Worcester, and the growing companies in the Greater Boston region.”
Mass Big Data’s research found increases in several key categories, including:
- Growth of Massachusetts ‘Big Data’ Companies: There are 537 data, computing, analytics-focused companies in the Commonwealth, an increase of 53 new firms over the past two years;
- Increase in Academic Programs, STEM Students: Twenty-two Massachusetts colleges and universities offer over 70 data science, analytics, informatics, and related undergraduate, graduate, and certificate programs, ten of which are pure data science degree programs. Mass. colleges and universities turned out 6,170 STEM graduates in 2013, a 10 percent increase over the previous year, highlighting the strong pipeline that exists of Massachusetts students trained in fields complementary to data and analytics;
- Rise in Patents: The research shows a 46 percent increase in patents in Big Data-related categories from 2010-2014.
The Indicators report is an update to the inaugural study released in April 2014, published by MassTech and the Massachusetts Competitive Partnership. That report provided a baseline analysis of the Mass Big Data ecosystem and its challenges, opportunities, and potential for growth. The updated 2015 Indicators report revisits those core indicators, while providing new data and performance metrics in categories useful to assessing big data-related growth and performance within the Massachusetts innovation economy.
The Mass Big Data project has supported several efforts over the past few years to connect Big Data students with growing Massachusetts companies, hosting 16 ‘Tech Treks’ in Amherst, Cambridge, Boston, and Worcester that featured executives from data-focused firms such as athenahealth, Bridj, EnerNOC, Lexalytics, National Grid, and Thomson Reuters.
The Massachusetts Technology Collaborative is an innovative public agency working to enhance economic growth, accelerate technology use and adoption, and harness the value of research by engaging in meaningful collaborations across academia, industry, and government. From improving our health care systems and expanding high-speed internet across the state to fostering emerging industry clusters, MassTech is driving innovation and supporting a vibrant economy across the Commonwealth.
The Innovation Institute at MassTech was created in 2003 to improve conditions for growth in the innovation economy by enhancing industry competitiveness, promoting conditions which enable growth; and providing data and analysis to stakeholders in the Massachusetts innovation economy that promotes understanding and informs policy development.
About Mass Big Data: Launched in 2012 by the Innovation Institute at the Massachusetts Technology Collaborative, the mission of Mass Big Data is to strengthen all dimensions of the Commonwealth’s big data ecosystem. The Initiative engages collaboratively with industry, academia, government, and nonprofit partners to raise awareness and interest around the region’s big data assets, players, and successes; develop and expand the essential, highly-skilled big data workforce across the state; accelerate regional innovation; and advance public access to open government data sets and engage the Commonwealth and its residents in more data-driven activities and outcomes.
Senior Communications Manager
Massachusetts Technology Collaborative
(508) 870-0312 x:293