{"id":83605,"date":"2012-03-02T08:46:00","date_gmt":"2012-03-02T06:46:00","guid":{"rendered":"https:\/\/www.technion.ac.il\/blog\/hot-technion-facts-on-startups-innovation-israel-science-technology\/"},"modified":"2012-03-02T08:46:00","modified_gmt":"2012-03-02T06:46:00","slug":"hot-technion-facts-on-startups-innovation-israel-science-technology","status":"publish","type":"post","link":"https:\/\/www.technion.ac.il\/en\/blog\/hot-technion-facts-on-startups-innovation-israel-science-technology\/","title":{"rendered":"Hot Technion FACTS on Startups, Innovation, Israel, Science & Technology"},"content":{"rendered":"
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Film promo for the book “Technion Nation — Technion’s Contribution to Israel and the World.” <\/a>Prof. Shlomo Maital takes you on a short journey through the book, written by Professors Amnon Frenkel and Maital, with Ms. Ilana DeBare that tells the story of how Technion’s graduates drove Israel’s transformation from an economy of Jaffa oranges to semiconductors, and of how Technion scientists have given the world new forms of matter, life-saving discoveries and countless innovations that enrich lives of people everywhere, winning Nobel Prizes along the way.<\/span><\/div>\n
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Data published by the Samuel Neaman Institute.<\/a><\/strong><\/p>\n

National researchers have found that investment in human\u00a0capital, in Technion undergraduate science and engineering students – has generated\u00a0exceptionally high (and risk free) social rates of return.<\/p>\n

Investment in human capital at Technion generates\u00a0a 76\u2010197% social rate of return, at least, or in\u00a0absolute terms, some $35\u2010$60 billion for 50 graduating\u00a0classes.<\/p>\n

The annual output of Technion graduates in\u00a0high\u2010tech industries and computer services,\u00a0communications and Research & Development is\u00a0estimated at a minimum of $21 billion.<\/p>\n

The median\u00a0income of Technion graduates is NIS 20\u201025,000\u00a0(gross income) per month, and is substantially\u00a0higher than both the average wage in the economy\u00a0and than the average wage of those with higher\u00a0education.<\/p>\n

The cost of the 2010 undergraduate class was approximately $1 billion (for four years of\u00a0education). The social return to Israel’s economy is estimated at\u00a0between $1.76 and $2.97 billion.<\/p>\n

These calculations show that public investment in Technion science and engineering\u00a0education is highly profitable, with higher rates of return that almost any other\u00a0conceivable risk\u2010free investment.<\/p>\n

An overall estimate of Technion graduates\u2019 GDP contribution to the Israeli economy,\u00a0shows an annual output\u00a0of Technion graduates in high\u2010tech industries and computer services, communications\u00a0and Research & Development at an estimated \u00a0$21 b., or some 20 per cent\u00a0of the total annual output of these industries.<\/p>\n

Technion engineers contribute to\u00a0generating some 78,000 jobs that support high\u2010tech industries, jobs that pay relatively\u00a0high wages.<\/p>\n

Technion graduates\u2019 contributions also find expression in the taxes they\u00a0pay, some NIS 16.6 b. or about $4.4 b., in direct and indirect taxes, or some 13 per cent\u00a0of the state revenue from direct and indirect taxes.<\/p>\n

Findings in this research project show the unique contribution of Technion, through its\u00a0graduates, to creation of human capital over a century of its operations.<\/p>\n

Technion graduates participate in every facet of Israel\u2019s economy,\u00a0technology, education and management, especially in its high\u2010tech growth\u2010leading\u00a0sectors.<\/p>\n

Other findings in the research, based on a Web\u2010based survey of some 4,000 Technion\u00a0graduates, indicate major contributions of individual Technion graduates to Israel and\u00a0the world.<\/p>\n