Harvard University and the Massachusetts Institute of Technology's impact on business and job creation is brought to light as both institutions publish reports regarding their alumni success.
Reports into the impact of studying at Harvard University and the Massachusetts Institute of Technology (MIT) show that businesses created by alumni of the two institutions generate annual revenues of more than $5.8 trillion.
The Harvard Impact Study shows that living graduates from the university have created more than 146,000 organisations, both for-profit and non-profit. These statistics are reflected in MIT’s study, Entrepreneurship and Innovation at MIT, which shows 30,200 active companies created by the institute’s 130,000 alumni.
The two institutions together are responsible for more than 24.6 million jobs today.
It should be noted that Harvard’s statistics include Bill Gates and Mark Zuckerberg, neither of whom finished their studies at the university.
Drew Gilpin Faust, president of Harvard University and Lincoln professor of history, said: “The Harvard Impact Study captures the diverse contributions alumni make around the world. Whether founding an organisation or offering their time and talents to a non-profit through board service or volunteerism, alumni around the world are working to better their local and global communities.”
Leo Rafael Reif, president of MIT, said: “As we do our part by continuing to foster our students’ natural creativity and energy, it is inspiring to see the potential our alumni hold to extend MIT’s power to do good for the world.”
