According to a new report on Michigan’s University Corridor Research schools (including U. Michigan, Michigan State, and Wayne State), graduates of the three universities have started or acquired businesses at double the national average rate among college graduates since 1996.
The report, titled “Embracing Entrepreneurship,” is based on survey responses from 40,000 of the three schools’ 1.2 million alumni, and offers several other key findings indicative of Michigan’s growing status as an entrepreneurial ecosystem, including:
- URC alumni are 1.5 times as successful as the average U.S. business owner at keeping startups and acquisitions alive in the past five years
- 19 percent of surveyed alumni have started a company, and some have started multiple companies
- 70 percent of URC alumni entrepreneurs who graduated in the past decade are starting their businesses at an earlier age – between 23 and 31 years old
For complete survey findings, check out the full report here.