A new report showed that among the top entrepreneurial schools in the world include Harvard and MIT.

The Report

According to a Pitchbook’s new annual report, among the top universities and colleges that create entrepreneurs, are Harvard and MIT. Pitchbook is a research company for venture capital. Their report analyzed the entrepreneurs who had raised funds for venture capital from January 2006 till August 18th 2017.

The results showed that the top schools for entrepreneurs who are backed with venture capital are in tech communities. The report ranked the schools based on various categories, such as: undergraduate programs and MBA programs. They even included a category for the number of female entrepreneurs the school has produced.

Harvard and MIT received a top-10 and top-5 rank in several of the report’s categories.

Details From the Report

For the undergraduate category, MIT received third place – with over 900 entrepreneurs, $16.1 billion fundraised in venture capital. Harvard received fourth place, with 844 entrepreneurs, raising $21.9 billion. In first and second place are Berkeley & Stanford respectively.

For the MBA category, Harvard received the first rank- with more than 1,200 entrepreneurs and $28.5bn raised. MIT was seventh- with around 400 entrepreneurs and $7 bn raised.

Harvard also received the rank with regards to schools that produced the most female entrepreneurs with venture capital backing.  Several female entrepreneurs from Harvard have started companies, including “Rent the Runway, StitchFix, Gilt Group, Cloudflare, and many more. The school with the top undergraduate female entrepreneurs is Stanfrod, with Harvard in second place.

Comments On the Findings

According to Jodi Gernon, “Arthur Rock Center for Entrepreneurship” at “Harvard Bussiness School,” said that because there are a lot of benture capitalists as the school’s alumni, this helps their current students to be able to access VC.

“Where it’s really hard to get through the door of a VC, having that network I think really helps to boost a lot of the women,” Gernon said.

She said that networks play a large role in where the raised VC goes. “Names have cache, especially in a business that really comes down to personal relationships as much as the VC business does, given that it’s such a high-risk, potentially high-return industry in general,” said Garrett Black, Pitchbook’s research manager. He describes this as “the network effect.”

“When it comes to Harvard and MIT, you not only get the typical founders that are more technical — that actually work on the first iterations of products and help build out prototypes — you also get the crop of business school students that are more purely entrepreneurial,” Black explained.

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