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February 7, 2020 Newsletter
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Montana High Tech News
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Economic outlook remains strong for Montana, employers must continue to battle workforce shortage
Patrick Barkey, director of the Bureau of Business and Economic Research at the University of Montana, said the outlook for Montana is mostly positive in 2020. Thom Bridge/Independent Record, via Missoulian

By Katy Spence

For those who’ve lived through tough economic times, a workforce shortage can seem like a good problem.

“We have, incredibly, more job openings in the economy than we have unemployed workers in the US economy,” Pat Barkey, director of the Bureau of Business and Economic Research (BBER) out of the University of Montana told attendees gathered at the Missoula stop of the 2020 Economic Outlook Seminar (EOS) tour.

Aptly named “Finding Good Workers,” this year’s EOS tour is focusing on workforce challenges around Montana and across the nation. While challenging for employers, a tight labor market has been good for Montana workers: increased wages and benefits, better job security, low unemployment, and increased consumer spending are the earmarks of a thriving worker population. 

For Montana employers, however, fewer workers can mean slowdown in business growth. For five years, Montana tech companies have reported that a lack of skilled workers has been their top barrier to growth. Now it seems the trend is affecting other industries in the state, as well. 

The Montana Chamber of Commerce, in their recently-released statewide Workforce Development Study, found that the number one impediment all Montana businesses face in expanding total employment this year is a lack of available skilled workers. Seventy-two percent of businesses report that they were not satisfied with the availability of skilled workers in the state. 

Barkey said a number of factors could contribute to the tight labor market. A skill mismatch between available workers and open positions means that some potential employees are simply not qualified for the jobs that are open. An aging population makes it difficult to train for and fill senior-level positions, and points to the impending “Silver Tsunami” retirement of the populous Baby Boomer workers. Even a poor online reputation can discourage younger generations from pursuing a career with a company. 

Barkey suggested that employers need to better understand upcoming generations of workers who may operate differently from their predecessors. For example, he said, look at those born from 1996 - 2010, or Gen Z.
Read more
Read more coverage of the event:

Montana's economy is good — but where are the workers? (Montana Standard)

Western Montana economy heats up as Yellowstone County cools (Billings Gazette)

Patrick Barkey: Finding good workers and finding the best solution for Montana (Missoulian)

Report: Missoula’s economy remains strong, outpacing state average (Missoula Current)

Finding workers still a problem for Montana (KPAX)

Meet a member of the MHTBA team: Kristy Fuchs
Kristy Fuchs is the Events, Marketing & Membership Intern for the Montana High Tech Business Alliance. She is a senior at the University of Montana Missoula College studying Administrative Management with a focus on Social Media Management. Kristy plans to pursue a career as an executive or personal assistant in the high tech or entertainment industry. In her free time, Kristy enjoys drawing, reading, and hunting for treasures at thrift stores. 

Grab a beer with tech companies in your city before the MT Economic Outlook Seminar - RSVP for Kalispell, Havre, Lewistown, and Big Sky
The Alliance will be hosting local meetups in every city the night before the Montana Economic Outlook Seminars. Come have a beer with other tech companies in your community. Attendance is free, but you must RSVP. 

Our next meetup will be sponsored by Applied Materials on Feb. 10 in Kalispell. Click here for more info and to RSVP. 

Upcoming meetups:
Havre, March 16. Click here to RSVP.
Lewistown, March 17. Click here to RSVP.
Big Sky, March 18. Click here to RSVP.

Email director[at]mthightech.org if your company is interested in hosting a meetup.

Member News

Next Frontier Capital: Through the Rear-View Mirror

Montana Sees Massive Increase in Access to Capital since 2015
Over the last 5 years, NFC has brought in over $194M venture capital dollars into Montana, 56 percent of state-wide venture capital investment. Graphic by NFC.
By Jared Thompson, Associate, MSU 2020

Here’s a venture capital stat that’s never made Term Sheet’s daily headlines….
 

From $7M to $152M, Per Year 

 
The total number of venture capital dollars invested in Montana between 1995 and 2015 was $114M; $5.7M on average per year, over a 20 year period. And, if we take out just 5 outliers within that time frame - together totaling 83% of invested capital - that number becomes a wee $19M. Just under $1M per year. Re-stated for many of you in more familiar terms, for over twenty years, the average yearly investment in Montana’s entire entrepreneurial and technology economy was just 33 healthy Wagyu cows.

In 2015, we understood that Montana technology companies were severely under capitalized and that there was a tremendous investment opportunity to realize. On the doorstep of 2020, and a few months away from our 5th anniversary, we’re excited to report some refreshed VC statistics. Since 2015, roughly $342M venture capital dollars flowed into Montana companies; that is 12x the annual average from the previous 20 years at a yearly average of $68.4M (2,160 healthy Wagyus). And it’s only growing.  In 2019 alone, for the first time ever, venture capital investment in Montana exceeded $150M dollars.   

Read NFC's full report.

Glacier Bancorp, First Interstate Bank, and Wells Fargo named to Forbes list of America's Best Banks

Edited By Antoine Gara/Forbes

The environment for American bankers has never been better. Fueled by low interest rates, tax cuts and a strong economy of record low unemployment and 2%-plus growth, U.S. banks are close to earning a quarter of a trillion dollars in annual profits.

Forbes’ 11th annual look at America’s Best Banks ranks the 100 largest publicly-traded banks and thrifts based on their growth, credit quality and profitability.

9. Glacier Bancorp Inc.    
37. First Interstate Bank
89. Wells Fargo

Check out the full list and criteria here.

Informa Financial Intelligence and Neuro-ID partner to remove digital friction in the customer journey

Neuro-ID's Friction Index® Scientifically Measures and Monitors Digital Friction to Improve Customer Experience


LONDON, Jan. 30, 2020 /PRNewswire/ -- Informa Financial Intelligence, a leading provider of solutions for financial services professionals, and subsidiary of Informa PLC (LSE: INF), the international exhibitions, events, business intelligence and academic publishing group, today announces its partnership with next-generation analytics company Neuro-ID, to empower digital transformation and customer experience initiatives.
 

"Today's consumers demand a better digital experience as they interact with financial institutions," said Craig Woodward, President of Informa Financial Intelligence. "While that may seem to be a straightforward concept, utilizing technology to scientifically measure and explain digital friction in the customer journey was not available. Our partnership with Neuro-ID will help solve one of our customers' biggest challenges."

Via a simple JavaScript installation, leading brands can now see points of friction, points of hesitation and points of confidence, and compare those to global standards using the Friction Index®.  This unprecedented layer of intelligence makes it possible to adjust and optimize the digital customer experience in real time to produce ideal results on a per-customer basis. 

"Nine out of ten digital customer journeys result in frustration or failure," said Jack Alton, CEO of Neuro-ID. "The inability to measure and understand the experience digital consumers are having has led to endless cycles of A/B testing and hypothesizing. Neuro-ID's Friction Index® upgrades a company's visibility by providing game-changing behavioral analytics to help explain where and why customers are abandoning or completing each step of the customer journey."

Read the full press release.

Early Stage MT announces 2020 tech startup accelerator series, opens application
TechstartupAccelerator-Banner

Claim a front-row seat to the kickoff event for Early Stage MT's 3rd annual Tech Startup Accelerator Series, where tech startups from across Montana showcase their companies to industry experts and members of the community. Qualifying participants are invited to take part in Early Stage MT's HyperAccelerator—a FREE and intense week-long training and mentorship program designed to advance business plans, strategies, and skills. From there, the most promising startups move on to the November Statewide Showcase where they vie for a $50,000 investment opportunity.

Attend the opening of Early Stage MT's 3rd annual Tech Accelerator Startup Series: The HyperAccelerator is a once-in-a-lifetime opportunity to receive individualized support from 50+ industry experts and top-tier mentors. Other programs offering this level of expertise normally charge entrepreneurs thousands of dollars to attend, but Early Stage MT provides this service is FREE.

Learn more about attending and applying for Early Stage MT on the website.

Be a judge, sponsor, or coach at the UM John Ruffato Business Startup Challenge on March 27

The University of Montana College of Business and Blackstone LaunchPad asks you to Save the Date for the 31st Annual John Ruffatto Business Startup Challenge. This premier, state-wide entrepreneurial competition offers students the valuable chance to develop and present their unique business ideas to a diverse group of entrepreneurs, business executives, investors and professional advisors with the opportunity to compete for over $50,000 in prizes. 

  • Judges & Coaches: If you are interested in participating as a judge or coach for this year’s competition please let us know your preferences via this form. If you have questions regarding judging and coaching please email Paul Gladen, Director Blackstone LaunchPad: paul.gladen@umontana.edu 
  • Sponsors: If you have not previously or recently sponsored but would are interested in learning more about sponsorship, please contact Alex Rich, Assistant Director of Development College of Business. Email: alex.rich@supportum.org. Phone: 406.243.6723. You can also donate directly here. 

All 2020 judges, coaches and sponsors will be invited to a reception on the evening of Thursday, March 26 commencing at 5pm. Learn more about the challenge here.

Montana Cyber Security Report: Pine Cove Consulting Report on 2019 Data Breaches in MT
Pine Cove ConsultingA record number of organizations faced cyber-breaches in 2019, affecting hundreds of thousands of Montanans. Download Pine Cove Consulting's latest report to get more information on Montana's cyber-security laws, Montanans affected by cyber-breaches, length of cyber-breaches, organizations affected by cyber-breaches, and what you can do to prepare for 2020 cyber-attacks.

In the report, you will find:
  • A description of Montana's cyber-security laws,
  • The number of Montanans affected by breaches in 2019 and previous years,
  • The number of Montana organizations affected by breaches in 2019 and previous years,
  • The average length of cyber-breaches in Montana in 2019 and previous years,
  • A look ahead to 2020 and security measures you should consider.
Find the report here.

2019 Startup to Watch Charmed joining the 2020 Techstars Boulder cohort
Charmed founder and CEO Taylor Margot presents his dating-advice app. Image via Missoula Current.
Montana startup Charmed is one of 10 companies joining the 14th Techstars Boulder class. Charmed is a dating-advice app allowing friends to provide message suggestions and participated in Early Stage MT in 2019 and was named a 2019 Startup to Watch.

Companies from within Colorado and from Oregon, Montana, Mexico, Illinois, Utah and California will converge in Boulder for the program. Techstars Boulder has graduated 142 companies graduate in the past 14 years, who have gone on to raise over $1.2 billion, change their industries, and create thousands of jobs.

Check out the whole cohort here.

Registration open for Code Girls United 2020 NW Regional App Challenge in Kalispell
Learn more on the website.

Proposals for Big Sky Dev Con due Feb 29

Planning has begun for this year's Big Sky Dev Con, put on by Montana Programmers. This year's conference will be at The Commons in Bozeman, MT on Saturday June 13th.

Organizers have opened a Request For Proposals and would encourage anyone who is interested in giving a talk at this year's conference to submit their proposal for review. They will be accepting proposals until Saturday, Feb 29th.

In the past, Big Sky Dev Con has featured talks on Programming Languages, Design, UX, Software Development Practices, Tech Business, Testing, and Infrastructure.

Submit proposals here.

If you have questions, please email organizer@bigskydevcon.org.

Free dual credit summer computer science course for high school students at UM
The department of computer science at the University of Montana is offering 35 full scholarships for high school students for a summer session of CSCI 100. Students will receive full college credit. CSCI 100 is the first required course in UM's Computer Science Major, Minor and Programming Certificate and is specifically designed for students with no prior programming experience, and touches upon a variety of fundamental topics. This course uses Python to demonstrate those topics. 

More information and registration can be found on this website.

Judges needed for Youth Entrepreneurs "The Big Idea"
Last year, a Youth Entrepreneurs (YE) Montana student in Chinook won $6,000 for his existing business that designs and fabricates custom pickup truck bumpers.

This experience is another opportunity for Montana business and community leaders to impact students and provide mentorship to future leaders across America, and do it from your home office.

Creating a business idea and pitching it is often a capstone project for many of our YE courses and represents the culmination of months of effort. YE students and alumni (aged between 13-22) from across the nation, will soon be submitting their bold and creative ideas, whether for a business or a solution to a societal need. Applicants have a chance to win up to $20,000 capital award money.

Learn more about becoming a judge for this program.
Montana High Tech Business Alliance, Alter Enterprise: New Missoula Business pub launches Sunday (Missoulian), Missoula tech company accommodates Army Reserve specialist on deployment (Missoulian)
NorthWestern Energy, Montana Studios: Economic Outlook 2020: County, economic development officials predict banner year (Montana Standard)
TechLink: The Pulse (TechLink)
Montana Department of Commerce : Department of Commerce Announces 29 Montana Communities to Receive Planning Grants (MT.gov)
Diamond BTS: WSC Named Bellwether Award Finalist
LMG Security: Bezos Hack Report Puzzles Cyberexperts (Wall Street Journal)
Missoula Area Chamber of Commerce: Missoula Area Chamber of Commerce working to find child care solutions (Montana Standard)
Montana Manufacturing Extension Center: Upcoming Events for Manufacturers (MMEC)
Montana Studios: Film production company prepares to open headquarters in Butte (KXLF)
Bozeman economy: Bozeman’s economy ranked strongest small economy third year in a row (Bozeman Daily Chronicle)
City of Bozeman: State of Bozeman: Mayor talks need for decent wages, more child care options (Bozeman Daily Chronicle), Bozeman to consider downtown parking zones (Bozeman Daily Chronicle)
Missoula airport: Missoula airport sets another record in 2019 (Missoulian), Missoula airport sets new passenger record as terminal project advances (Missoula Current), Missoula airport considers sustainability, wages as terminal project advances (Missoula Current)
Montana air travel: TSA opens permanent pre-check enrollment center in Billings and Missoula (Billings Gazette)
Montana employment: Montana’s Unemployment Rate Holds Steady at 3.4% in December (Flathead Beacon)

Featured Jobs
Communications Coordinator, Montana High Tech Business Alliance, Missoula

Electromechanical Engineer, Montana Instruments Corporation, Bozeman

Software Development Consultant, Perficient, Bozeman

Full Stack Software Engineer – C#, .NET Framework, MVC, Waterstreet Company, Kalispell

Search more jobs.

Upcoming Events
MT Army National Guard Networking Registration - Helena. Feb. 8, 2-5pm, Fort Harrison. Join the MT Army National Guard for a fast-paced event designed to highlight career pathways and trends in your industry. Meet talent from across Montana who demonstrate teamwork, leadership, and responsibility. Explore how military service and civilian employment can be mutually beneficial. Connect with current Guard members at various stages of career exploration (entry and mid-career). Learn more by looking at this flier and register here.
Career Pathways Event - Missoula. Feb. 10, 12:30 pm - 3:30 pm, Missoula College. The Chamber, working in partnership with Missoula County Public Schools, has created an event designed to give school counselors a better idea of available jobs and careers in various industry sectors. The goal of this initiative is to educate school counselors on the wide variety of career pathways available; while providing a positive public relations opportunity for participating businesses. Businesses will introduce various pathways that students and young people can utilize to enter the workforce. The session will bring together the education community with many industry sectors currently looking for workforce. Learn more by emailing kimberly@missoulachamber.com.
Town Hall with Minneapolis Fed President Neel Kashkari - Kalispell. Feb. 11, 11:30 am - 2:00 pm. Hilton Garden Inn. Do you have a question about how the Federal Reserve System affects you? Wondering about economic disparities, regulating big banks, or the Fed’s recent interest rate decisions? Curious about how the Federal Reserve Bank of Minneapolis gathers data and informs its work within the Federal Reserve System?
Join us for a conversation with Minneapolis Fed President Neel Kashkari on these topics and more in Kalispell. See the full agenda and register.
1 Million Cups Weekly Meeting - Missoula. Feb. 12. Meets the first and third Wednesday each month at 9:00 am. Please note the new location will be in the Southgate Mall in the Leonard + Bonnie Hamilton Community Room, located in a hallway near JC Penney, in-between metroPCS and Tradehome. Start your morning with coffee and start your business with 1MC Missoula, a place to percolate your startup. Entrepreneurship runs through it. For more information visit the website or Facebook page.
1 Million Cups Weekly Meeting - Billings. Feb. 12, 9:00 am. “What can we, as a community, do to help you and your startup?” As always, we will feature presentations from 2 startups at different stages in growth and then you’ll have a chance to ask questions and provide feedback through 15-20 minutes of Q&A. Learn more.
Kalispell Transportation Plan: Move 2040 Listening Sessions - Kalispell. Feb. 12 - 6:00-7:30pm - Kalispell Chamber; Feb. 13 - 9:00-10:30am - Kalispell Chamber; Feb. 13 - 5:30-7:00pm - Kalispell Chamber. The City of Kalispell, in cooperation with the Montana Department of Transportation (MDT), is in the process of updating the Kalispell Area Transportation Plan, titled Move 2040. Move 2040 will consider all modes of transportation, not just automobiles. Considerations will be given to improving a range of mobility options such as biking, walking, and public transportation. Move 2040 will outline a full range of needed improvements to meet projected transportation demands to the year 2040. This will include a recommended list of affordable transportation solutions to address needs for the Kalispell Area. Learn more on the website.
Hellgate Venture Network meeting - Missoula. Feb. 13. HVN facilitates informal networking among entrepreneurs and advisers engaged in building growth businesses in Montana. Learn more on the HVN Facebook page.
Montana State University's Job and Internship Fair - Bozeman. Feb. 20-21, 2020, MSU Campus, SUB Ballrooms. At MSU's 15th Annual "Almost" Spring Job & Internship Fair, students and alumni from all majors and year in school will attend to meet with recruiters from organizations large and small regarding internships and full-time positions. For additional details and to register, go to the website. 
Montana High Tech Business Alliance Reception - Bozeman. Feb. 25, 2020, hosted by Rocky Mountain Bank.
MSU $50K Venture Competition - Bozeman. April 16, 2020, 5:30 pm in Jabs Hall on the MSU campus. The Jake Jabs College of Business and Entrepreneurship announces the inaugural Montana State University, which is open to all MSU students (undergraduate and graduate), MSU faculty and staff, and recent MSU alumni (10 years or less). All Ideas are welcome, including but not limited to new products, services, non-profit ventures, and social impact focus. Applications will be available after the new year. The deadline for applications is March 6, 2020. The finalists will pitch on April 16th. This event is open to the public for viewing. learn more.
1 Million Cups Monthly Meeting - Bozeman. March 4. Meets the first Wednesday of the month at 9:00 am at Red Tractor Pizza, Bozeman. Creating conversation around Bozeman startups, business development, and economic growth in the most entrepreneurial state in the nation (plus, coffee). For more information and application to present, visit the website.
2nd Annual Women Techmakers International Women's Day Summit - Bozeman. March 6, 2020,  Rialto, 10 W Main St Bozeman, Montana 59715. Spend the day learning and networking with other Montana women in tech at the Rialto in Bozeman. WTM welcomes all fields in the tech industry: everyone from engineers, product managers, engineering managers, sales executives, marketers, and user experience designers, to those simply interested in technology are invited to join. Learn more on the website or register here.
1-Day Cyber First Responder Class - Bozeman. March 11. Cybersecurity first responders need to react quickly to identify data breaches and minimize potential losses. Our Cyber First Responder class will ensure you know how to quickly identify breaches and properly preserve evidence during those first crucial minutes after detection. Check the sign-up schedule to see if you qualify for the early bird discount. Learn more.
ESMT Regional Competition - Billings. March 18, 4–7 PM. Claim a front-row seat to the kickoff event for Early Stage MT's 3rd annual Tech Startup Accelerator Series, where tech startups from across Montana showcase their companies to industry experts and members of the community. Qualifying participants are invited to take part in Early Stage MT's HyperAccelerator—a FREE and intense week-long training and mentorship program designed to advance business plans, strategies, and skills. From there, the most promising startups move on to the November Statewide Showcase where they vie for a $50,000 investment opportunity. Learn more and reserve seats.
31st Annual John Ruffatto Business Startup Challenge - Missoula. March 27, 2020, location TBA. This premier, state-wide entrepreneurial competition offers students the valuable chance to develop and present their unique business ideas to a diverse group of entrepreneurs, business executives, investors and professional advisors with the opportunity to compete for over $50,000 in prizes. Learn more on the website.
The Empowered Leader- leadership training - Missoula. April 2, 9:00 am - 4:00 pm. Missoula Area Chamber of Commerce, 825 E. Front St., Missoula. Presented by Bob Marsenich of Glacier HR Services, this training will help you understand how to actualize the foundations of leadership: self-awareness and self-knowledge. Learn how to assess a person's talent mix to influence performance behaviors toward success. Learn more from this flier and register on the website.
ESMT Regional Competition - Bozeman. April 2, 5:30–8:30 PM Claim a front-row seat to the kickoff event for Early Stage MT's 3rd annual Tech Startup Accelerator Series, where tech startups from across Montana showcase their companies to industry experts and members of the community. Qualifying participants are invited to take part in Early Stage MT's HyperAccelerator—a FREE and intense week-long training and mentorship program designed to advance business plans, strategies, and skills. From there, the most promising startups move on to the November Statewide Showcase where they vie for a $50,000 investment opportunity. Learn more and reserve seats.
ESMT Regional Competition - Missoula.  April 9, 5–8 PM. Claim a front-row seat to the kickoff event for Early Stage MT's 3rd annual Tech Startup Accelerator Series, where tech startups from across Montana showcase their companies to industry experts and members of the community. Qualifying participants are invited to take part in Early Stage MT's HyperAccelerator—a FREE and intense week-long training and mentorship program designed to advance business plans, strategies, and skills. From there, the most promising startups move on to the November Statewide Showcase where they vie for a $50,000 investment opportunity. Learn more and reserve seats.
Big Sky Dev Con - Bozeman.  June 13, The Commons. Stay tuned for more details here.
Quote 2 Cast Summit - Missoula. July 14-17. The industry's most unique and informative Quote to Cash conference returns to beautiful Missoula in mid-July! This year's summit brings new speakers and panelists and is focused on the exciting theme of "The Future of Quote to Cash." Learn more and register here.
Innovate Montana Symposium 2020 - Missoula. Sept. 24-25, location TBA. In its fifth and final year under Governor Bullock's Administration, attendees will hear from top business leaders in the state and across the country. The Innovate Montana Symposium is being co-hosted this year by the Missoula Economic Partnership, the public-private entity responsible for economic development in Missoula and Missoula County. " Stay tuned for more information on this site.

Find more events at MontanaBusinessEvents.com.
Share Your News and Events with MHTBA

Past Newsletters
01/23/2020 - Great Places for Tech: Billings; AMAT Kalispell speaks to U.S. Chamber; Bozeman Women Techmakers call for speakers; Proposed passenger rail expansion
01/09/2020 - 2020 predictions for tech in Montana; Chamber workforce study; Figure raises $100M; ExcelliMatrix fights invasive species; Cowboy Crickets opening 2/1
12/19/2019 - Vets find success in military service and Montana's tech sector with Alter, Ascent Vision, Two Bear Capital & Cowboy Crickets; bioscience funds
12/05/2019 - Blackfoot’s C2M Beta Acclerator Showcases Tech Startups to Montana Investors; Finding Good Workers: 2020 MT Economic Outlook; XD Bio Wins STTR Grant
11/21/2019 - UM Pres Bodnar pledges partnership with Alliance to grow tech skills; Video testimonials; CTA becomes Cushing Terrell; AudFest tickets; ESMT winners
Click to view more past newsletters.
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