uAlberta alumni businesses generate $348 billion in revenue

A new study out of the University of Alberta examined the economic impact of uAlberta graduates, determining that businesses and non-profit organizations created by alumni generate $348 billion annually, with 20% of that remaining in Alberta. The study estimates that 70,257 organizations have been founded by alumni, approximately one third of which are cultural or non-profit organizations. 15-20 large companies drive a large part of the revenue, but there are also thousands of small companies that contribute to the economic impact. Many of the companies are located outside of Canada, highlighting the international reach of alumni and the university. The study “shows that the value of postsecondary institutions goes ‘far beyond the monetary value’ of new inventions and technology commercialization,” stated uAlberta President Indira Samarasekera. The researchers used a US survey methodology devised at MIT and Stanford University called a scaled estimation technique, using data from 8,853 alumni surveyed in 2012. Edmonton Journal