Stanford alumni would have the 10th-largest economy in the world

Stanford alumni would have the 10th-largest economy in the world

If all Stanford alumni and the businesses they have founded moved to a new country, it would have the 10th-largest economy in the world

Stanford University has long been known as one of the world’s leading centers for innovation and a breeding ground for the entrepreneurs who created – and continue to shape – Silicon Valley. Now, for the first time, a study puts into perspective the sheer scale of the university’s economic impact, not just in Silicon Valley and California but across the globe.The study, released today, estimates that companies formed by Stanford entrepreneurs generate world revenues of $2.7 trillion annually and have created 5.4 million jobs since the 1930s.The study, “Stanford University’s Economic Impact via Innovation and Entrepreneurship,” describes the results of a large-scale, systematic survey of Stanford alumni and faculty conducted in 2011 by Charles Eesley, an assistant professor in the Stanford School of Engineering, and William F. Miller, the Herbert Hoover Professor of Public and Private Management Emeritus in the Stanford Graduate School of Business  and a professor emeritus of computer science. [Download an executive summary.]Based on results of that survey, the professors estimate that Stanford alumni and faculty have created 39,900 companies since the 1930s, which if gathered collectively into an independent nation would constitute the world’s 10th largest economy.”Stanford’s history is one of pioneering innovations in research, transferring discoveries to the broader community, and educating tomorrow’s leaders and entrepreneurs,” said Stanford President John L. Hennessy. “As this study illustrates, our faculty, students and alumni have had – and will continue to have – a tremendous impact on the global economy and on improving people’s lives.”

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