The T-EDI movement - Introducing transparent and actionable benchmarks to prepare for the next decade
Several prominent organisations in the Australian technology ecosystem have united to take a stand for the greater good of the sector. Joining forces with the Tech Council of Australia and harnessing government endorsement, the T-EDI Standards are set to support Australia’s potential as a top ten global digital economy.
The tech sector has long been plagued by a shortage of skills and efforts to address the vast underrepresentation of women, who make up half the working population in Australia, have been largely unsuccessful. Women currently make up just 28% of the technology workforce.
This presents a significant opportunity for Australia.
The purpose of the T-EDI Standards is to define best and leading practices across each of the known systemic Diversity, Equity & Inclusion markers that specifically address the underrepresentation of women.
With widespread participation, the removal of known barriers to women’s engagement and retention in technology workplaces serves to accelerate industry participation.
Standards provide clarity and international alignment. The T-EDI Standards will help grow Australia’s tech workforce. Read more context below:
Government Support and Strategy
The technology ecosystem in Australia continues to experience robust growth, driven by several key factors, including government support, a thriving startup scene, and significant investments in digital infrastructure and innovation. The Australian Government is actively promoting the growth of the tech sector through initiatives like the billion-dollar Digital Economy Strategy, which aims to position Australia among the top ten global digital economies by 2030. This strategy focuses on enhancing digital infrastructure, cybersecurity, and skills in emerging technologies while identifying key growth areas such as quantum technologies, autonomous systems, and artificial intelligence.
Startup Ecosystem
Australia's startup ecosystem is thriving, ranking 9th globally in the Global Startup Ecosystem Index. The country is home to successful global brands like Canva and Atlassian, and it has a vibrant startup scene supported by federal and state governments. Initiatives from various public sector organisations, including the Department of Industry, Innovation and Science, and the NSW Government, play a crucial role in fostering this ecosystem. The startup scene is particularly strong in sectors like Edtech, Marketing & Sales, and Software & Data.
Economic Impact and Investment
The tech sector has become a significant contributor to the Australian economy, surpassing traditional industries like mining and banking. In the fiscal year 2020-21, the sector contributed $167 billion to the economy, and this figure is expected to grow to $250 billion by the end of the decade. The sector's expansion is supported by a strong investment landscape, with record-breaking growth in recent years. Companies like Canva, Airwallex, and ROKT have attracted substantial investments, and Australia's superannuation structures further enrich the investment ecosystem.
Technological Advancements
Australia is embracing emerging technologies early, which has positioned it as a leading digital economy. The country's rapid digital transformation has made the tech sector the fastest-growing area for skilled development. Key advancements include the adoption of cloud infrastructure, virtualization, and digital transformation strategies. The IT industry is projected to see significant growth, with IT spending expected to surpass AU$133 billion in 2024, marking a 7.8% increase from the previous year. Overall, Australia's technology ecosystem is on a strong growth trajectory, supported by government initiatives, a dynamic startup environment, and substantial investments in innovation and digital infrastructure.
Tech skills shortages are particularly acute in technical occupations, like software engineering, and it’s especially hard to find experienced technical talent.
-Tech Council of Australia, The State of Australia’s Tech Ecosystem, March 2024 (read more)