- University of Utah graduates are 2.3 times likelier to found unicorn companies, or companies valued at or above $1 billion.
- The Stanford study ranked the the U. highest in the nation in terms of unicorn creation odds.
- The Lassonde Entrepreneur Institute supports entrepreneurship with programs for students and graduates.
SALT LAKE CITY — When it comes to producing unicorns, the University of Utah stands out as the best in not just the state, but the entire nation.
Not unicorns in the sense of the fantastical horse creature with a horn sprouting from its head — unicorns in the sense of private startups valued at $1 billion or more.
The distinction comes from a study published this month by Stanford Graduate School of Business professor Ilya Strebulaev. It determined that U. graduates are about 2.3 times as likely to build a unicorn as the average founder — a 131% increase and the highest figure of any U.S. school in the study.
"This recognition reflects what sets the University of Utah apart: we are a place where world-class research becomes real companies," U. President Taylor Randall said in a statement. "Our students and faculty don't just study big ideas — they build them, and a University of Utah degree gives our graduates one of the strongest chances in the country to launch a company that lasts. We are proud of this distinction and focused on expanding the opportunities behind it."
An important point to note about the study is that it measures likelihood, not volume, so it isn't claiming the U. is responsible for producing the most unicorns.
But when it comes to the likelihood of producing a billion-dollar company, the U. came in ahead of well-known institutions like Yale University and the Massachusetts Institute of Technology.
"Stanford and MIT produce the most unicorn founders. But the University of Utah gives you the best odds," Strebulaev wrote in a LinkedIn post.
Strebulaev certainly knows a thing or two about founding a company, too. As a professor of finance at Stanford, Strebulaev founded and directs the Venture Capital Initiative, a research effort focused on venture capital and innovation. He is the co-author of "The Venture Mindset," a national bestseller.
But how exactly did the U. come out on top?
The study rankings were limited to schools tied to at least 10 unicorns, which were then ranked by an "odds ratio" that measures how overrepresented a school's graduates are among the greater pool of unicorn founders.
"The odds ratio adjusts for the fact that leading universities produce more VC-backed founders overall," Strebulaev wrote. "A high raw count and a high odds ratio are different things — and the schools that lead on one rarely lead on the other."
Kurt Dirks, dean of the U.'s David Eccles School of Business, said helping students become founders is "at the heart of what we do."
"Through entrepreneurship programs across campus, students can launch a new venture or accelerate their current company. This is part of our goal to fuel Utah's economy," Dirks said in a statement.
The most notable program at the U. is the Lassonde Entrepreneur Institute, which launched in 2001 and was recently ranked among the 10 best entrepreneurship programs in the nation by U.S. News & World Report.
Following the institute's launch was the construction of Lassonde Studios — a living and learning community where students from any major or background can live, create and launch their ideas. The five-story building at the center of campus hosts an innovation and event space on the first floor and dorm space on the upper levels.
In 2022, the institute launched "Lassonde for Life," a program open to all University of Utah graduates, regardless of degree, to provide lifelong business and entrepreneurial support.
"At the Lassonde Entrepreneur Institute, entrepreneurship is something students experience, not just study," Scott Holley, executive director of the Lassonde Entrepreneur Institute, said in a statement. "We give them the space, mentorship, funding and community to bring their ideas to life. Seeing the University of Utah ranked No. 1 in the nation for these odds is a powerful signal to the next generation of founders: this is a place where you can start, build and grow a company."
