There are some 220 foreign firms started by MIT graduates, with total employment of 28,000. The largest number of these are in Europe and Latin America, as shown in Table 3 . The table divides these firms between those in manufacturing (including related areas like utilities, biotech, and software) and consulting (including finance and law).
There are 67 MIT-related businesses in Europe, most of which are in engineering and other consulting. The greatest number of these firms are in England, France, and Germany. Latin America has 52 firms, divided almost equally between consulting and manufacturing. The largest number of these are in Mexico, Brazil and Venezuela. East Asia includes the advanced countries on the Asian rim--Japan, Australia, Singapore, and Hong Kong. The Middle East includes Africa; "Asia" is the remainder of Asia.
Many of these are sizable businesses; those in Europe and East Asia average 215 employees and $18 million in sales. Almost two thirds of these foreign businesses are started by alumni with MIT graduate degrees. This is in marked contrast to American founders, only one third of whom have advanced degrees from MIT.
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