LaunchX Alumni Startup Statistics
By Launchx team
September 16, 2020
Our mission is to empower young people to build the future… and our alumni are doing just that! We surveyed our alumni to follow up on the companies that they started at LaunchX, additional entrepreneurial activity, and the impact of LaunchX.
~70% of Alumni are Working on Startups!
Only ~15% of LaunchX Summer startups are still operating. Note that this is across all years of alumni since we started in 2013, with a higher rate of continuation in more recent years and lower for earlier years of the program, meaning that if it has been multiple years since the program summer that fewer startup teams are still in operation. We would still love to see this number be higher, so we’re reflecting on teaming and support past the summer.
Most LaunchX alumni are operating startups, though, with ~55% of alumni having started other companies since completion of the summer program! Combined with the alumni working on their LaunchX startups, this accounts for ~70% of alumni that are actively engaged in a startup!
Startup Descriptions and Progress
Alumni descriptions of their LaunchX companies collectively create the word cloud shown, with many startups having an app or platform, plus things like help, learning, people, students, online, system, smart, technology, time, connect, users, and more!
Alumni company progress is often described as the team working on research, the product, prototyping, and developing a patent.
Alumni startups have achieved some impressive growth past the program, including significant revenue, investment, and several even seeing the sale of the company!
Other Alumni Entrepreneurial Activity
We also recognize that many of our alumni continue their entrepreneurial interest in different forms than starting companies. This includes through working at startups or investment firms, advising startups, and organizing hackathons or entrepreneurial events.
Favorite Part of LaunchX
Finally, we asked our alumni about their favorite part of LaunchX, and as you can see, it was overwhelmingly the people! They have loved meeting new friends, though there are also the great guest speakers, the learning experience, and social life. People cited specifics of the “hands-on approach” and the “constant learning and collaboration.” We are excited to continue providing this experience to more students!
Our alumni continue to have an immense impact through their startups, the events they organize, and the entrepreneurial mindset that they impart in their various roles. We are excited to continue following their impact in the years to come!