Research
Data-driven insights on entrepreneurship, venture capital, and economic development from Cambridge-Boston and beyond.
2025 Harvard/MIT AI Unicorn Trends Report
As of September 2025, Harvard and MIT account for 26 AI unicorns valued at $124B on $12.6B raised. This report finds ~50% greater capital efficiency than non-AI peers (~15% capital intensity vs. 27.5%), an average of ~4 years (median 3) to reach $1B+, and an under-25/dropout cohort comprising 11 unicorns worth $79B. Included are data tables, the Top 50 companies, leading investors, the 021T Heat Index (hot sectors), superlatives, and 10 predictions, plus clear definitions and methodology.
Harvard's Unicorn Economy: Global Economic Impact of Harvard-Founded Unicorns (2005–2025)
Harvard's entrepreneurial ecosystem has produced 170 unicorns since 2005, creating ~$6.1T in public market value (~11% of the S&P 500) plus ~$490B in private value. These companies generate ~$560B in annual revenue, support ~3.37M jobs worldwide, and consistently add ~9 new unicorns per year, with ~32% ultimately exceeding $5B in valuation. It's hard to overstate Harvard's contribution to both the global economy and the health, wealth, and well-being of our society.
More research coming soon
Stay updated on Devon's latest research and reports.