The impact of entrepreneurship and innovation at MIT

To the members of the MIT community,

A powerful way that MIT graduates drive progress is by starting companies that deliver new ideas to the world. Now, thanks to Professors Edward Roberts and Fiona Murray and graduate student J. Daniel Kim, we have an exciting picture of the magnitude of that impact.

A report released today examines the number of MIT graduates who start and build for-profit firms. As of 2014, the report's authors estimate that living MIT alumni have

• launched more than 30,000 active companies,
• creating 4.6 million jobs,
• and generating roughly $1.9 trillion in annual revenue.

Taken together, this "MIT Nation" is equivalent to the 10th-largest economy in the world!

You may read more on MIT News.

The report confirms what has long been clear: Our community's passion for doing, making, designing and building is alive and growing. 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.

Sincerely,

L. Rafael Reif