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All five IITs put together top in terms of startups with 1,500-mark while IIT Mumbai ranks 17th
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UC Berkeley has taken the top spot for the number of venture-funded startups its undergraduate alumni have founded, according to 2023 PitchBook university rankings.
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In terms of capital raised IITs top with close to $ 78 billions, Delhi University and University of Mumbai are also in list
NARASIMHAN KASTHURIRENGAN
SAN FRANCISCO, SEPT 17
At a time when the fellow IITians have gathered for their annual leadership conference in Silicon Valley, the news of five IITs together ranking top in terms of startups in the world came as a boon for the community. All five IITs Bombay, Delhi, Kharagpur, Madras and Kanpur, together had close to 1,900 founders with 1,600 startups. In terms of capital raised, it was at $ 78.2 billions. In the US, Berkeley undergraduate alumni have created the most new companies, according to PitchBook, a data provider for private and public equity markets.
IIT Mumbai was 17th in the world rankings with 500 founders and 431 startups with $ 16.4 billions closely followed by Delhi 24th with 480 founders and 409 startups. But it raised more capital than Mumbai close to $ 20 billions. Kharagpur which was ranked 44 had 318 founders and 264 startups with $13 billions followed by Madras ranked 46 with 301 founders and 266 startups with $14.2 billlions. IITKanpur ranked 65, had 258 founders and 218 startups and equally close to Madras at $ 14.1 billions.
University of Mumbai ranked 73 and Delhi University at 75 had founders 236 and 221 startups with $ 5.8 billions and 235 founders and 223 startsups with $ 4.0 billions, respectively. Institutions like BITS, NIIT did not find a place in the list.
Pitchbook, annually ranks the world’s best universities for producing startup founders. While the Pitchbook 2023 data show that Berkeley undergraduate alumni have created the most new companies, its overall rankings are based solely on how many students and alumni — from private and public schools around the world — are founders of companies that received a first round of venture funding in the past 10 years.
In PitchBook’s overall rankings this year, Berkeley is the top public university for producing startup founders for the sixth straight year in succession. Berkeley remained No. 2 among both private and public schools, with Stanford University in the top spot.
Which universities produce the most entrepreneurs? PitchBook's annual rankings are back for 2023. Our list compares schools by tallying up the number of alumni entrepreneurs who have raised venture capital in the past 10 years.https://t.co/MfJoLvyaOr
— PitchBook (@PitchBook) September 12, 2023
The competition was so close that Berkeley had only two fewer founders than Stanford. The rivalry was evident, as well, in the data for the number of companies produced by undergraduate alumni founders at both schools, according to a UC communique.
Berkeley clocked in with eight more companies than Stanford — 1,305 companies versus 1,297. Last year, PitchBook data showed Berkeley trailing Stanford by five companies.
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Taking first place in the number of companies “is not surprising,” according to the Berkeley Chief Innovation and Entrepreneurship Officer Rich Lyons. “From an already strong base, Berkeley’s ecosystem of support for founders to produce quality companies have accelerated dramatically over the past 20 years,” the communique quoted him saying.
The overall rankings in the Top 5 were Harvard University with 1,205 undergraduate founders, University of Pennsylvania (1,083), Massachusetts Institute of Technology (1,079) and Cornell University (856). Other UC campuses to crack the Top 100 included UC San Diego, UC Davis, UC Santa Barbara and UC Irvine.
Undergraduate and graduate rankings are based on an analysis of more than 1,50,000 companies and their founders.
