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A new survey that takes a wide-ranging look of the local tech community reveals an industry that is growing quickly while still facing some economic and social challenges.

The “Indianapolis Tech Census Report” was released Thursday by Powderkeg Ventures LLC, an Indianapolis-based firm that helps connect high-growth tech ventures with resources that help them scale up. The survey of technology founders, professionals, investors and tech-community supporters was completed by 359 respondents.

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Powderkeg collaborated with Raidious, an Indianapolis-based digital marketing agency, for the design and production of the report.

“The goal in distributing this survey was to provide a truly representative snapshot of the state of the technology community in central Indiana, our accomplishments and the challenges we face,” the researchers said.

Growth evident

Big growth was evident at many of the 80 or so companies that responded to the survey, with 34 percent of the respondents reporting revenue growth of more than 100 percent in 2017 and 20 percent seeing revenue growth in excess of 200 percent.

The survey also shows an industry that is dominated by young and well-paid workers.

Sixty-three of workforce respondents reported annual salaries in excess of $75,000 and more than half made more than $100,000. Eighty percent of software developers surveyed were 35 or younger, with a third younger than 25.

Industry hurdles

Lack of access of capital was the primary issue identified as holding the local tech industry back. Nearly 45 percent of founder respondents cited lack of funding as the No. 1 issue.

Respondents also said the area’s conservative nature and excess of humility sometimes made local leaders reluctant to take risks.

Social issues

Workforce respondents overall reported very high job satisfaction in their tech careers, but many said they’d like to see a more diverse workforce.

The highest percentage of census respondents (23 percent) said diversity and equality made up the social issue that they’d like to see the local tech industry most impact over the next five years.