3 Ways TechGen is Tackling the “Brain Drain”
Two weeks ago, Benjamin Bungert and I chatted with Shelagh Braley from Founders Wire about the “brain drain” (recently explored in this CBRE report and this BBJ article). Shelagh wanted to know how TechGen is tackling this problem head on, as one of several programs working to end the brain drain and change the talent narrative.
In case you didn’t know, TechGen is the exclusive intern marketplace that connects the best local students with the hottest local companies. And here are three of the ways we’re moving the needle on Massachusetts’ talent problem:
Creating a community. Historically, campuses are insulated bubbles — it takes a fair amount of cajoling to get students to explore the world beyond. As such, an integral part of our mission is to engage students off campus through events and workshops. We provide vehicles to build skills, network, learn about companies, meet founders, explore new neighborhoods and ultimately gain a better understanding of the opportunity that awaits. Since our 2015 launch, we’ve built a community of more than 4300 students!
Online platform and marketplace. We tapped local teams at DockYard and echobind for this one. Our online platform is a two-way marketplace, connecting companies to talent and students to internships. For students, we put Boston’s hottest, intern-seeking tech companies in one convenient place, right at their fingertips; for companies, we centralize the intern hiring process, saving valuable bandwidth and resources. In an environment where talent complains about a lack of employers as much as employers complain about a lack of talent, TechGen is the vehicle balancing the equation: More than 1900 students actively looking for internships at over 270 local companies!
Delivering rockstar candidates to top notch companies. So what does success look like? Well, we measure it in connections: how many new, potential hiring relationships were facilitated by TechGen? This spring, more than 9000 applications were submitted through the TechGen platform and companies received an average of 27 candidates per position posted on TechGen. Success.
Since our launch in 2015, we’ve experienced tremendous growth, which speaks to the demand from both students and companies. But don’t just take our word for it. Check out our growth from 2015 to 2016:
- Our student community grew 215%
- Number of students seeking internships through TechGen grew 138%
- Number of companies leveraging TechGen to find interns grew 131%
Talk about traction.
Massachusetts is flush with talent, and we also have incredible resources supporting students and companies — TechGen is only one of them! Other resources include stipend programs from Mass Clean Energy Center, Mass Life Sciences Center, as well as Stay in MA and the Global EIR program.