1. Toward an Understanding of Alumni Entrepreneurial Activity at a Technological University McRae C. Banks with Drew Gilday and KaterinaMangaroska School of Business Worcester Polytechnic Institute

2. Motivation and Method Learning about our entrepreneurial alumni Similar to MIT alumni studies by Ed Roberts Online survey Email with link sent to over 15,000 living alumni of WPI Given four weeks to participate, but closed after six weeks Two reminder messages sent 622 responses (~ 4%)

3. Majors 348 Engineering 68 Math/Computer Science 65 Science Balance Other (MBA, MSIT, MIS, MGE, MG, SS, System Dynamics, etc.) Civil Engineering and Mechanical Engineering comprise 50 percent of participants Vast majority graduated prior to 1995

4. Founded or Considered It

5. What Influenced You to Start?

6. Barriers for Non-Starters

7. Some Basic Information Companies founded in 26 states and 2 other nations 63% New England 37% Massachusetts 16% West 12% Northeast 5% Midwest Only 7% are (or were) public

8. Sector

9. Criticality of IP

10. Number of Founders

11. Source of Cofounders

12. Sources of Funding

13. Company Size

14. Variables Affecting Location Decision

15. Variables NOT Affecting Location Decision

16. Variables Important toExpansion Decisions

17. What would help you inachieving your vision?

18. What Can WPI Provide?

19. Take Aways for WPI Humbling, but reinforces importance of mindset A handful of really successful alumni we should engage Surprised at the percentage of serial founders Surprised at the low importance of IP