AMERICAN INNOVATOR: New Study Reveals Robust Impact of Independent Nonprofit Colleges, Universities

HARRISBURG, Pa. - July 2, 2024 - PRLog -- Nobel-Wealth Link

More than 1 out of 10 American Nobel Prize winners are affiliated with an AICUP school. The reason that's significant and beneficial for all Pennsylvanians is because there is a noted correlation between a region's aggregate number of Nobel Prize winners and its capacity to create wealth. While the Nobel Prize is only one of many possible indicators for achievement, it is nonetheless a significant metric to gauge the recognized talent and innovation in a given ecosystem. This is one factor in what's known as a "knowledge spillover," defined as "knowledge externalities bounded in space, which allow companies operating nearby important knowledge sources to introduce innovations at a faster rate than rival firms located elsewhere." For example, consider the fact that America, which represents only 4% of the world population, also represents 27% of the world economy (top GDP at $29 trillion); next consider the fact that although America only represents 4% of the world population, it also represents 45% of all Nobel Prize winners (409 American Nobel winners out of 919 total in the world).

Likewise, AICUP colleges and universities attract top talent and even Nobel winners to Pennsylvania, which in turn can have significant spillovers for the regional economy. 66 of the 409 American laurates awarded since the inception of the Nobel Prize were or are affiliated with an AICUP member school (that's 16%, an outsized proportion considering that Pennsylvania's population of 13 million is less than 4% of the US population of 334 million).

Generating Wealth

"Which College Produces the Most Billionaires?" was the title of a 2018 survey and infographic by the media platform Visual Capitalist. It may be a surprise to many that neither Stanford nor Harvard held the top spot, but rather, it's one university in Pennsylvania, credited with minting 19 billionaire alumni.

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View the complete press release here: https://aicup.org/wp-content/uploads/2024/07/American-innovator-_-annotated-1340-7.1.24.pdf