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Meaningful research
May 6, 2021
The best-known examples of technology-based knowledge economies built through higher education, scientific research and innovation are the Silicon Valley and the Boston’s Technology Corridor, which each contribute more than $275 billion and $ 400 billion annually to the US economy.
Many universities contribute to the success of both these regions. A 2012 study estimated that the companies formed by Stanford entrepreneurs generate $2.7 trillion in annual revenues. A 2009 study showed MIT alumni had founded 25,800 active companies worldwide, employing 3.3 million people and generating nearly $2 trillion in annual revenues. These would be the equivalent of the 10th and 11th largest economies in the world.