BY James Hischke - Senior Director - Tech Advancement & Outreach, Northwestern Mutual
Milwaukee tech hub: harnessing the power of disruption
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Technology is rapidly accelerating the pace of change across many industries, and Northwestern Mutual is being impacted just as much as anyone. When it comes to providing our customers financial security, they expect a digitally driven experience.
few years ago, Northwestern Mutual began a digital transformation, accelerating our business strategy, elevating the focus of tech skills in our workforce, and increasing investments in innovation, technology and startups to provide more value for not only our clients, but also our employees and our community.
Northwestern Mutual wasn’t the only business affected by technology disruption. We were hearing the same issues from other local companies. Northwestern Mutual decided to step up and be the catalyst to help move this region forward collectively. Advocate Aurora Health quickly stepped in as a corporate partner and we decided to work together to raise the tide, so we can lift all boats. We quickly realized that several organizations were accomplishing amazing things related to tech and innovation. Gener8tor, Startup Milwaukee, Rockwell Automation, The Commons, Milwaukee 7 Economic Development Partnership (M7), the Greater Milwaukee Committee (GMC), The Water Council,
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Milwaukee Commerce, WINTER 2018
local universities, and many others were creating and investing in programs, events, and partnerships that were having positive impacts. However, all these good things were not coming together as a cohesive story nor were they having the impact at a scale and a speed needed to compete with other regions.
An "all hands on deck" approach is needed to retain and upskill the Milwaukee region's workforce with industry leaders taking a leadership role.
$27.6B Economic impact from tech dependent industries
- nearly one quarter of the total regional economic output of $119.2B
To understand the existing tech ecosystem and to begin to change the narrative around what “tech” meant to the Milwaukee region, Northwestern Mutual and Advocate Aurora Health partnered with several area organizations to conduct the region’s first technology talent impact study. The study found that tech talent dependent industries contributed $27.6 billion in gross regional product to the Milwaukee regional economy in 2017.
Technology is the common thread that is disrupting every major Milwaukee industry.
31,000+
TECH JOB OPENINGS PROJECTED OVER THE NEXT 5 YEARS
