The evidence clearly shows that markets focused on innovation, policy, and financial investment thrive. However, the biggest challenge to economic growth is the lack of skill-based education to meet the demands of the market.
When communities don’t invest in relevant skill-based education, the economy suffers. There are typically large segments of the local population in these communities that are left out and left behind. In order to ensure stable and thriving economies we must invest in education that provides the skills necessary to attract global companies, start new companies, and improve the overall infrastructure of the community. It is critical that all individuals who make up the local economy have the opportunity to both contribute to that growth and benefit from it.
WHY INVEST IN TECH EDUCATION?
Markets across the globe are seeing an increase in economic growth as a result of investing in education, innovation and funding. When it comes to investing in education, we continue to see that tech education is producing the greatest results. This is largely due to the mobility and universality of code. Amazing and innovative products can be built from almost anywhere on the planet today. As long as there is a high-speed internet connection, transformation is possible. Below are six reasons that investing in tech education will be a catalyst for years to come.
DIRECT JOB CREATION
The Technology sector is, and is expected to remain, one of the largest employers across the globe. IDC projects that the technology industry is on pace to reach $5 trillion in 2021 with a growth trend of 5% annually through 2024!
CONTRIBUTION TO GDP GROWTH
Findings from various countries confirm the positive effect of technology on GDP growth. For example, a 10% increase in broadband penetration is associated with a 1.4% increase in GDP growth in emerging markets. The internet accounts for 3.4% of the overall GDP in some economies.
EMERGENCE OF NEW SERVICES AND INDUSTRIES
Numerous public services have become available online and through mobile phones. For example, the government of Moldova is one of the first countries in Eastern Europe and Central Asia to shift its government IT infrastructure into the cloud and launch mobile and e-services for citizens and businesses.
TECH COMPANIES SEEK GLOBAL EMPLOYEES
New “microwork” platforms, developed by companies like oDesk, Amazon and Samasource, have built systems that can then be outsourced to contract workers. The contractors are most often based in emerging economies.
The birth of organizations like the Global Accelerator Network (GAN) have shown the impact of tech innovation on developing economies. Over the last 10 years, more than 4,700 startups have gone through a GAN accelerator, with more than 85% of those startups still in business today.
DIVERSITY ACCELERATES BUSINESS INNOVATION
Studies show that diverse teams perform better, which is why many companies are seeking to build more diverse teams. In order to make this happen, access to jobs, education, and funding are necessary.
WHAT CAN WE DO?
At Code Fellows, we believe tech careers should be opened to everyone. The future of tech will be shaped by the diversity in our world–through the full breadth of humanity. It will be the people from all walks of life desiring to level up, the curious who fall in love with learning, and the problem solvers who see things that need to be changed that will find rewarding careers in technology.
Through the power of partnership, we are able to leverage our collective strengths to ensure we create lasting change. At Code Fellows we have been crafting technical curriculum since 2013. We are leading the way in building, refining, and adapting curriculum to ensure we are keeping up with the demands of the industry and preparing graduates for the rigorous expectations of a career in tech. We have thousands of graduates now working in rewarding new careers in more than 800 companies in markets around the globe. We’ve been able to tailor our curriculum to fit learning styles, exceeding employer expectations and industry standards, and setting a high bar of excellence. Graduates who immerse themselves in Code Fellows curriculum and training methods (like stacked learning and agile methodologies) have the skills they need to be world-class technologists and are able to immediately contribute to the companies they join on day one as well as keep up with the rigorous demands of an ever-changing market. They build portfolio-ready projects, understand the ins and outs of their craft, and have the aptitude necessary to nail any technical assessment or interview they will face in the job market.
Our passion for education is only outshone by our passion for providing access to it. We believe the immersive education model works when passionate instructors, teaching assistants, and support staff recognize education’s ability to change lives. In months—not years—someone can dramatically improve their career prospects and access opportunities previously closed to them.
This is why we invest in strong partnerships to ensure our students have the best opportunities to make an impact in their new careers. Code Fellows has a strong commitment to quality. From your first interaction until your last you will feel the support, love and passion of our team to ensure your local success.
WHAT WE LOOK FOR IN PARTNERS
A passion for providing access to meaningful education
Education changes lives. Our partners care about empowering others. When historically depressed markets invest in education, they begin to experience sustained growth. When people have an opportunity to learn and are given the skills to succeed, economic change follows. Immersive education brings this opportunity, shifting the paradigm of historically oppressed and depressed economies.
Strong local and global partnerships
Success requires strategic partnerships. No individual is an island, and no company is, either. We believe in the power of partnerships and forging alliances with government sectors, private and public companies, and non-profits within the community.
An established brand
To connect with the right people, there must be individuals and organizations within the community who have a track record of supporting the community, through quality goods and services, resources, inclusion, and other practices that build a strong reputation.
Focus on Innovation
Any market that wants to see a strong, sustainable economy must be committed to supporting, attracting, producing innovative startups, and/or partnering with established businesses to innovate within corporate innovation.
Investment in the Local Community
Partners that invest in their community add value through retaining talent, attracting companies, and creating new businesses. Education is at the center of this. Training and retaining talent ensures that members of the community have access to skills and support to contribute to and benefit from the growth of the local economy.
Commitment to Diversity & Inclusion
Increasing diversity and inclusion in the tech industry are top values at Code Fellows, which is why we look for partners that will foster an inclusive, supportive community to train software developers and cybersecurity professionals who will be leaders in the companies they join.
Do these characteristics describe your organization? Let’s partner together to produce change. When it comes to tech education, we’ve done the hard part. Since 2013, we’ve been building, refining, and adapting our curriculum so that graduates are prepared for the rigorous demands and high expectations of the ever-changing tech industry.