This Pittsburgh university is one of the best for VC-seeking entrepreneurs, per PitchBook data

Carnegie Mellon University produces a lot of successful entrepreneurs — more than most other universities around the world, according to new venture capital data.

PitchBook released its 2023 list of the best universities for founders, and the Oakland school ranked high compared to other institutions.

These rankings are determined by the number of founders whose companies received their first round of VC funding between January 2013 and September 2023. They include data from more than 150,000 founders.

Here’s how CMU ranked among PitchBook’s list of global universities:

• The university ranked #23 among undergraduate schools this year with 492 founders, 439 companies and $16.5 billion raised.
• It ranked #8 for graduate schools with 682 founders, 559 companies and $24 billion raised.
• And it ranked #29 among MBA programs with 119 founders, 112 companies and $4 billion raised.

See the global rankings

PitchBook also compared schools according to the success of their women grads. Here are CMU’s rankings for female founders:

• The university ranked #30 on the list for undergraduate female founders with 54 founders, 53 companies and $2.4 billion raised.
• It ranked #11 among graduate schools for female founders with 71 founders, 66 companies and $824 million raised.
• And it did not rank among MBA programs.

See the female founder rankings

See how the university’s 2023 rankings compare to last year’s.

On the global list, University of Pittsburgh didn’t rank in the undergraduate or MBA categories but was named #73 among graduate schools, with $3.1 billion raised across 134 companies by 157 founders. On the female founders list, Pitt also didn’t rank in the undergraduate or MBA categories but was named #47 among graduate schools, with $244 million raised across 24 companies by 25 founders.

And worth noting: Not all entrepreneurs raise VC, and raising venture capital doesn’t mean your company will be successful.