From classroom to boardroom: 2023 study reveals universities churning out today’s business leaders

In a bold step to unravel where tomorrow’s business leaders are really coming from, Novuna Business Cash Flow scoured LinkedIn data of nearly 2.8 million alumni from 121 universities. The findings? A fascinating blend of familiar names and unexpected contenders in the entrepreneurial arena.

The Standouts:

Index Rank	University	Region	Guardian 2023 Rank*	% of Alumni becoming company founders (2020-2022)*	No. of Students Equivalents*
1	University of Cambridge	South East	3	6.85	4,374
2	SOAS University of London	London	86	6.64	662
3	London School of Economics and Political Science	London	4	5.90	3,456
4	Goldsmiths, University of London	London	106	5.76	757
5	University of Oxford	Midlands	2	5.16	2,902
6	University of Cumbria	North West	115	5.10	303
7	Imperial College	London	5	4.98	1,682
8	Falmouth University	South West	97	4.95	397
9	University of the Arts London (UAL)	London	19	4.33	1,250
10	University of St Andrews	Scotland	1	4.11	533
11	Kings College London	London	29	3.86	2,384
12	City, University of London	London	58	3.75	723
13	University College London (UCL)	London	9	3.63	2,652
14	St Mary’s University, Twickenham, London	London	70	3.58	189
15	University of Sussex	South East	66	3.51	806
16	York St John University	Yorkshire	77	3.46	261
17	The University of Edinburgh	Scotland	12	3.42	1,526
18	Royal Holloway, University of London	London	33	3.38	540
19	Wrexham Glyndwr University	Wales	94	3.32	149
=20	University of Chichester	South East	37	3.25	152
=20	Middlesex University	London	111	3.25	702

Full list available in the Novuna Business Cash Flow blog post

While the likes of Cambridge and Oxford remain strongholds for entrepreneurial education, the limelight is shared by unexpected stars like the University of Cumbria and Goldsmiths.

Regional Divide: More Than Just North Vs South

While 75% of the top 20 entrepreneurial universities lie in London or the South, deeper exploration paints a more intricate portrait. The regions dominating in producing company founders are:

Index Rank	Region of University	% of Alumni Founders (2020-2022)	No. of Student Equivalents
1	London	3.54	21,570
2	South West	2.64	5,320
3	South East	2.63	10,008
4	Scotland	2.61	6,204
5	Wales	2.41	2,874

However, the North and Wales seem to be punching above their weight, especially when examining universities that ramped up founder production from 2017-2019 to 2020-2022.

Bucking the Trend: Universities Defying Odds

A comparative look between the 2017-2019 and 2020-2022 periods reveals a decline in entrepreneurs across most regions. However, nine universities defied this trend:

Index	University	Region	Guardian 2023 Rank	% of Alumni 2017-2019	% of Alumni 2020-2022	No. of 2020-2022 Students Becoming Company Founders
1	University of Cambridge	South East	3	5.70	6.85	4,374
2	University of Cumbria	North West	115	4.22	5.10	303
3	University of Suffolk	South East	69	2.11	2.91	175
4	York St John University	Yorkshire	77	2.77	3.46	261
5	Liverpool John Moores University	North West	87	1.73	2.04	692
6	University of Wales, Trinity Saint David	Wales	74	2.61	2.87	285
7	University of Chichester	South East	37	3.01	3.25	152
8	Wrexham Glyndwr University	Wales	94	3.10	3.32	149
9	University of Bolton	North West	38	2.23	2.30	183

A closer look reveals that apart from Cambridge, all the other top performers were ranked 37th or below by The Guardian.

John Atkinson, head of commercial business at Novuna Business Cash Flow, reflected: “Our findings highlight that the entrepreneurial spirit is well and truly alive across a spectrum of universities, not just the usual top-tier suspects. For young people aspiring to be business leaders and evaluating university options, this data provides a fresh perspective.”

16/08/2023