1. Annual Event 2009 "Success Factors in High Technology: Macro Level, Micro Level"
December 30th, 2009
Innovation Blog
MIT - Massive Impact Technology
How One University Created "Entrepreneuria", A $2 Trillion Economy
By Prof. Shlomo Maital
A research report by two MIT researchers reveals the massive impact that a
single university can have on an economy, by generating innovative
technologies and the entrepreneurs who know how to leverage them to meet
real wants and needs. 1
The report was summarized by MIT Enterprise Forum of Israel Director Ayla
Matalon, at the Forum's annual meeting on Dec. 30.
Edward B. Roberts, Sarnoff Professor of Management of Technology, and
doctoral student Charles Eesely, surveyed all living MIT alumni/ae in 2003,
while verifying and updating data through the Compustat database.
Here are a few of their findings:
 MIT alums launched 25,800 companies still active, employing 3.3
million people and generating annual world sales of $2 trillion (nearly
equivalent to the 2008 GDP of Italy -- at $2.3 trillion, the world's 7th
largest economy).
 Just 796 of the largest MIT alum companies (2 per cent of the total)
account for more than 80 per cent of total sales and 70 per cent of total
employees, of all the MIT-founded firms. In other words: Some of the
MIT-based startups grew to global size.
 MIT-origin firms had a massive impact on the State of Massachusetts;
some 6,900 companies with worldwide sales of $164 b. are located in
Massachusetts, representing fully a quarter of the sales of all
Massachusetts companies and creating over a million jobs.
 Many of the MIT-origin firms are engaged in manufacturing
(instruments, machinery, electronics, biotech, software), accounting for
half of all MIT-generated employment.
1
Edward B. Roberts and Charles Eesley. Entrepreneurial Impact: The Role of MIT. MIT Sloan School
of Management, 2009. Download the report at www.kauffman.org/mit
Copyright© 2009 MIT Enterprise Forum of Israel. All rights reserved
In cooperation with:
Faculty of Management - The Leon Recanati
Graduate School of Business Administration
MIT Enterprise Forum of Israel, Tel Aviv University - Recanati building, P.O.B 39010, Tel Aviv 69978
T: +972(3) 6405608, F: +972(3) 6405609, web: www.mit-forum.org.il E-mail: yazamut@tauex.tau.ac.il

2.  MIT is the center of a world-leading biotech cluster, with 95 biotech
companies clustered around the Kendall Square area. Prof. Fiona
Murray found that 65 out of MIT's 493 life scientists have founded or
served on the boards of directors of at least one venture-funded
company.
When William Barton Rogers founded MIT 144 years ago, in 1865, in a grimy
industrial building in Cambridge, MA., he chose as MIT's mantra: mens et
manus, "mind and hand" -- powerful science, transformed into useful
products for mankind. Those three Latin words have driven MIT's vision for a
century and a half. For universities who seek to 'mine' the golden eggs of
their researchers' intellectual property through patenting and licensing, MIT
has a strong message: The 'goose' is in fact the startup companies launched
on the basis of those researchers' knowledge, not their patents.
Copyright© 2009 MIT Enterprise Forum of Israel. All rights reserved
In cooperation with:
Faculty of Management - The Leon Recanati
Graduate School of Business Administration
MIT Enterprise Forum of Israel, Tel Aviv University - Recanati building, P.O.B 39010, Tel Aviv 69978
T: +972(3) 6405608, F: +972(3) 6405609, web: www.mit-forum.org.il E-mail: yazamut@tauex.tau.ac.il