The school turned out 18.6 per cent of all tech founders in Canada, according to a new report from the Impact Centre at the University of Toronto. U of T grads are the second biggest group of founders at 10.6 per cent. The report also found that 95 per cent of tech founders in Canada have at least an undergraduate degree, and nearly 75 per cent of them were educated here. Just 5.8 per cent are women. (Impact Centre)
Talking point: The college dropouts who went on to found Apple, Facebook and other Silicon Valley giants have created a narrative that formal education isn’t necessary to launch a successful tech company. But the Impact Centre’s numbers highlight how infrequently that story plays out. In fact, 46 per cent of founders are PhDs. Women are woefully underrepresented, making up just 2.3 per cent of founders with STEM educations. That means although more women are graduating with STEM degrees—now 40 per cent of all STEM graduates in Canada—they still aren’t going on to start tech companies.