The Rady School of Management at Uinvesity of California, San Diego announced recently that 115 startups have emerged from the school’s MBA program in the last decade.
A large portion of the companies are in the biotech and consumer products industries along with a significant number in technology, medical device, health, consumer service, clean-tech and software, the school said in a news release.
"The Rady School MBA program is fulfilling the vision that many of our local leaders held nearly 15 years ago, as evidenced by the founding of 115 operational companies by our students and alumni," said Rady School Dean Robert S. Sullivan in a statement. "It is remarkable to see the school, its students and graduates become an engine for growth in San Diego and beyond."
Of those startups that secured angel or venture capital funding, the average money raised is over $2.3 million, according to a recent survey of students and alumni conducted by the Rady School. In addition, 77 percent of the companies employ up to 10 employees, 57 percent rent or own office space and 70 percent of the companies expect to grow in the next three years.
The survey also noted the impact the Rady MBA program, including the Lab to Market core curriculum, has had on students launching their business. Prior to enrolling in the Rady MBA program, only 5 percent of the students had launched a business, while 38 percent founded a company while they were in school, and 67 percent launched after graduating Rady.
The Rady School launched the StartR Accelerator in 2013 to help Rady students and alumni develop, fund, and launch their startups. Twice a year six teams are accepted into the program, which includes workshops, mentoring advice and access to other resources for early-stage companies, according to a Rady news release.
To date, StartR has graduated 27 companies into the innovation economy.