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Study Examines Economic Impact of MIT-Related Companies

In what is touted as the first major national study of the economic impact of a research university, BankBoston recently reported on the economic impact of companies founded by graduates of the Massachusetts Institute of Technology (MIT). The report, MIT: The Impact of Innovation, "is a case study of the significant effect that research universities have on the economies of the nation and its 50 states."

Graduates of MIT have founded some 4,000 currently active companies, according to the report. Worldwide, these companies account for annual revenues of almost $232 billion. Compared with foreign countries, MIT-related companies would rank 24th largest in the world -- just behind South Africa and ahead of Thailand.