EDMONTON — From life-saving medical advances and energy innovation to shoes, beer, food and wellness, chances are you've likely come in contact with at least one of the more than 75,000 companies founded by University of Alberta graduates around the world.
According to the Alumni Impact Report, a new survey by Ernst & Young, companies founded by U of A grads contribute $250 billion to the global economy annually. That's roughly the equivalent of the GDP of New Zealand.
The report shows that every year U of A alumni-founded companies contribute $136.4 billion to the Alberta economy — equal to 41 per cent of Alberta's GDP. In comparison, Alberta's top three industries, oil and gas; real estate; and manufacturing make up a combined 41.3 per cent of the province's total GDP.
In addition, the survey found:
- 922,000 jobs supported annually by alumni-founded companies worldwide; of those, 560,000 are in Alberta — totalling more than 22 per cent of the province's workforce.
- 71 per cent of grads work for organizations within Alberta.
The Alumni Impact Survey findings follow the U of A economic impact report released in April 2023, which demonstrated that the University of Alberta itself generates $19.4 billion a year for the province's economy.
The impact goes beyond the economy. The survey found that 86 per cent of U of A graduates volunteered in the last 12 months and donated a collective $979 million to charities during that time. Plus, half of all U of A grads are actively engaged in mentoring activities.
There are more than 300,000 U of A grads around the world and 9,000 students receive their degrees each year.
To read the full story, click here. To book interviews with Ashton Rudanec, president of the U of A Alumni Association or other available U of A alumni, please contact:
Sarah Vernon | University of Alberta communications associate | svernon@ualberta.ca
Quotes:
"Alumni represent the best of the U of A across every corner of the globe. Now we can quantify just how large a footprint they contribute to the economic, intellectual and cultural arenas here in Alberta and around the world."
Bill Flanagan, president and vice-chancellor, University of Alberta
"The findings of the alumni impact survey demonstrate how U of A grads are changemakers. It's one of the many reasons I'm proud to be part of this community. I truly believe that, when we work together, we have the capacity to shape the world"
Ashton Rudanec, president of the U of A Alumni Association and Director, Sustainable Investing, Alberta Investment Management Corporation