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Impact: Entrepreneurship and Innovation at MIT: Continuing Global Growth and Impact—An Updated Report

Author

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  • Roberts, Edward B.
  • Murray, Fiona
  • Kim, J. Daniel

Abstract

This study analyzes the economic impact of MIT alumnifounded companies and highlights the key trends in the MIT entrepreneurial ecosystem between 1950 and 2014. Based on a large-scale survey of all living MIT alumni in 2014, this study is a major update to Roberts and Eesley (2011). It systematically characterizes alumni engagement in the broader innovation ecosystem through not only starting new companies, but also patenting, investing as angel investors, and joining startup firms as early employees. We highlight the role of foreign-born students as entrepreneurs and innovators as well as key trends in the alumni-founded ventures’ industry composition, firm performance, and economic impact through job creation and sales. Based on the lessons from MIT in the past 60 years, we discuss various implications for university leadership for designing and implementing educational curricula and programs that address the evolving nature of alumni entrepreneurship and innovation. Lastly, the appendix describes our methodological approach to extrapolating survey results and contributes to the literature on survey-based research methods.

Suggested Citation

  • Roberts, Edward B. & Murray, Fiona & Kim, J. Daniel, 2019. "Impact: Entrepreneurship and Innovation at MIT: Continuing Global Growth and Impact—An Updated Report," Foundations and Trends(R) in Entrepreneurship, now publishers, vol. 15(1), pages 1-55, April.
    • Handle: RePEc:now:fntent:0300000093
    DOI: 10.1561/0300000093
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    Cited by:

    1. Schaeffer, Paola Rücker & Guerrero, Maribel & Fischer, Bruno Brandão, 2021. "Mutualism in ecosystems of innovation and entrepreneurship: A bidirectional perspective on universities’ linkages," Journal of Business Research, Elsevier, vol. 134(C), pages 184-197.
    2. Rahmat Ullah & Rashid Aftab & Saeed Siyal & Kashif Zaheer, 2023. "Entrepreneurial Higher Education Education, Knowledge and Wealth Creation," Papers 2308.08808, arXiv.org.
    3. Diego Corrales-Garay & Eva-María Mora-Valentín & Marta Ortiz-de-Urbina-Criado, 2020. "Entrepreneurship Through Open Data: An Opportunity for Sustainable Development," Sustainability, MDPI, vol. 12(12), pages 1-25, June.
    4. Charles Stephen Tundui & Christopher Shiganza, 2021. "Determinants of entrepreneurial behaviour in the public sector in Tanzania: a case of water services provision," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 11(1), pages 189-199, December.
    5. Riccardo Gianluigi Serio & Maria Michela Dickson & Diego Giuliani & Giuseppe Espa, 2020. "Green Production as a Factor of Survival for Innovative Startups: Evidence from Italy," Sustainability, MDPI, vol. 12(22), pages 1-12, November.

    More about this item

    Keywords

    university role in entrepreneurship; entrepreneurship education and support; entrepreneurial economic impact;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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