4 out of 10 Tec de Monterrey graduates have set up a business

A new survey carried out by QS, the British firm that specializes in education, concluded that 41% of Tec de Monterrey graduates have started a business, generating 2.8 million jobs worldwide.

The survey, entitled “Socioeconomic Impact of Tec de Monterrey Graduates Worldwide” indicates that the startup rate of Tec graduates is more than double the Mexican average, in the case of both social enterprises and for-profit corporations.

It mentions that 158,294 active for-profit corporations and social enterprises have been set up by Tec graduates, which have created employment opportunities representing almost 4 years of all the jobs created by the Mexican economy.

 

• 41% of Tec graduates have set up at least one company. 14.5% are also involved in a social enterprise.

It is estimated that the total annual income generated by those companies founded by graduates over 75 years would be approximately 223 billion dollars, which would be equivalent to 19.14% of GDP for the Mexican economy in one year (measured as of the first quarter of 2018).
 

• 2.8 million jobs have been created by Tec graduate companies.

“The results of this survey fill us with pride, as they reflect the great effort our graduates are making, and they confirm that we’re on the right track”, said David Garza, Rector of Tec de Monterrey.

“We’re committed to persevering in our efforts to continue being a place where our students develop their full potential. They will become leaders who contribute to the shaping of modern Mexico and are able to grow successfully in the uncertain and changing world they were born into”, he added.
 

Salvador Alva, President of Tec de Monterrey, indicated that the results obtained in this survey reflect the very positive impact that more than 280,000 graduates have had on Mexico and the world over 75 years.

“Tecnológico de Monterrey is undoubtedly a place where young people learn not only in order to get a job, but also to become opportunity generators”, added Alva.

“We’re an institution that comes from society and is for society, committed to preparing leaders with the necessary skills to successfully face up to 21st-century challenges”, he said.

Juan Pablo Murra, Vice President for Relations and Development, said that Tecnológico de Monterrey’s graduates reflect its vision and values.

“They’re an essential part of the Tec community, through their careers and their generation of socioeconomic value for Mexico”, he said.
 

THE SURVEY

This project was carried out under the guidance of the Tec de Monterrey Academic Board and the market research team of the Quacquarelli Symonds (QS) Intelligence Unit.

As an independent and neutral party, the QS Intelligence Unit was responsible for carrying out and processing the survey, data evaluation, and analysis.
 

Dasha Karzunina, from the QS Intelligence Unit, said in an interview with CONECTA that MIT and Harvard have performed similar surveys on the impact of their graduates.

“In terms of economic impact, we focused on the startup aspect of graduates, because they’re exceptionally entrepreneurial”, she said.

“We discovered that Tec graduates focus a lot on volunteering and helping the community”.

“This is far and away the biggest survey we’ve performed for a university (the Tec) and I believe it’s been very interesting and a great success”, she added.
 

To carry out this survey, a questionnaire was sent to a total of 269,482 graduates. The general response rate was approximately 7%.

This sample of survey respondents was carefully weighted in order to make accurate projections for the entire population of Tec de Monterrey graduates.

The survey commissioned from QS was divided into three areas:

• Economic Impact
• Social Impact
• Innovation

Economic Impact includes different statistics on startups, job creation, survival of companies, geographic impact, appointments to boards of directors, and income generated.

This section refers to the number of for-profit and non-profit organizations founded, giving the reult that of the 41% who set up for-profit organizations, 14.5% are also involved in social enterprises.
 

Social Impact includes statistics on nonprofit organizations, emphasizing elements such as: organization founders, impact on employability, survival statistics, philanthropic spirit, and volunteering.

The survey indicates that more than 100,000 Tecnológico de Monterrey graduates have worked as volunteers at nonprofit organizations, which is equivalent to 5% of all the volunteers in Mexico.

• On average, graduates contribute 5 hours of volunteer work per month.

Innovation, the survey’s final section, refers to patents for innovation in processes and products, as well as publications, research, and scientific articles produced by graduates.

It mentions that 9% of survey respondents have invented an innovative process. There was an almost equal split between the men and women who publish articles, giving a total of 56% and 44%, respectively.

• 9% of survey respondents have invented an innovative process. Of these, 14% have obtained 1 to 5 patents.

Click here to read this survey in detail (in spanish).

ALSO READ: