Fostering an innovative and entrepreneurial ecosystem within higher education is vital for universities, their graduates and the local economy. A recent survey by two Stanford University professors demonstrates the wide-reaching impact of innovation and entrepreneurship education and opportunities within the university.
According to the survey report, an estimated 39,900 active companies can trace their roots to Stanford. If these companies collectively formed an independent nation, its estimated economy would be the world’s 10th largest. Extrapolating from survey results, those companies have created an estimated 5.4 million jobs and generate annual world revenues of $2.7 trillion.
Explore the graphic below for a visual representation of survey results. The graphic was created by Epicenter, a National Science Foundation-funded program for creating and sharing entrepreneurship and innovation resources among engineering schools. The center is managed by Stanford.
Would you like to conduct a similar survey at your institution? Download a collection of materials used to conduct this survey. Download the survey toolkit.
This survey, funded by venture capital firm Sequoia Capital, was conducted by Charles E. Eesley, Assistant Professor in Management Science and Engineering, and Morgenthaler Faculty Fellow at Stanford University; and William F. Miller, Herbert Hoover Professor of Public and Private Management Emeritus, Professor of Computer Science Emeritus and former Provost at Stanford University. Read more about the survey: Study Reports Stanford Alumni Create Nearly $3 trillion in Economic Impact