A case study of the entrepreneurial economy spawned by MIT was released last week. The report, Entrepreneurial Impact: The Role of MIT by Edward B. Roberts and Charles Eesley (both of MIT) looks pretty interesting and some of the numbers and statements in the press release are pretty amazing. Here is a snippet from the Kauffman Foundation’s website — you can download the report there. (I will post more on the report after I have read it)
According to the study Entrepreneurial Impact: The Role of MIT analyzes the economic effect of MIT alumni-founded companies and its entrepreneurial ecosystem, if the active companies founded by MIT graduates formed an independent nation, their revenues would make that nation at least the seventeenth-largest economy in the world. Within the U.S., these companies currently generate hundreds of billions of dollars and hundreds of thousands of jobs to regional economies, particularly those in Massachusetts and California. Globally, a less conservative estimate of their annual world sales would equal $2 trillion, producing the equivalent of the eleventh-largest economy in the world.