year, and helps create about 15-20 start-up companies annually. Research funding, ILP, and TLO are just a few examples of MIT's interactions with the industrial sector. Technology transfer also occurs naturally when students graduate and join the marketplace. In fact, the largest form of technology and knowledge transfer has always been and will always be the education of students who carry new ideas with them into industry. For example, close to 26,000 currently active companies have been founded by MIT alumni, which together generate annual revenues of $2 trillion and employ about 3.3 million people (from Entrepreneurial Impact: The Role of MIT , E.B. Roberts and C. Eesley, Kauffman Foundation, February 2009). The continuous flow of international scholarly publications is also a major contributor to knowledge and technology transfer. Fifth: MIT is an institution driven by a mission of service. MIT's history is rooted in a tradition of research efforts that result in practical benefits for society. MIT researchers address challenges with an underlying motivation to serve society by reaching solutions that improve our long-term quality of life. Service includes, among many examples, additions to the pool of practical knowledge. For example, MIT is typically awarded over 160 patents annually, each one representing an innovation produced by MIT faculty, staff, and/or students motivated to create the knowledge that will impact society. Patented technology licensed for development sometimes achieves financial success, contributing to general economic growth and job creation. In summary, educational and research institutions educate and develop our human capital,