New report outlines MIT’s global entrepreneurial impact
A report released today by MIT underscores the substantial economic impact of the Institute’s alumni entrepreneurs, whose companies have created millions of jobs and generate annual revenues of nearly $2 trillion — a figure greater than the gross domestic product (GDP) of the world’s 10th-largest economy. In 2009, Edward Roberts, the David Sarnoff Professor of Management at the MIT Sloan School of Management, co-authored a report estimating that, as of 2006, MIT alumni had founded 25,800 active companies worldwide, employing 3.3 million people and generating nearly $2 trillion in annual revenues. Today’s report updates those figures: As of 2014, the report estimates, MIT alumni have launched 30,200 active companies, employing roughly 4.6 million people, and generating roughly $1.9 trillion in annual revenues. That revenue total falls between the world’s ninth-largest GDP, Russia ($2.097 trillion), and the 10th-largest, India ($1.877 trillion), according to 2013 data on those and other countries from the...