Alumni from these universities received the most financial backing this year

Entrepreneurs hailing from universities on the West Coast scored the most funding over the past year, according to a new report.

The study, which examined more than 5,000 funding announcements, mergers and IPO exits during the last 12 months, was conducted by GraphicSprings, a logo design company aimed at entrepreneurs and small businesses.

Stanford University boasted the largest amount of alumni receiving exit, IPO or other funding throughout the past year, at 138 individuals. Harvard University came in second place with 89 graduates granted funding, however Harvard’s total funding, $7.939 billion, surpassed Stanford’s $6.015 billion. University of California Berkeley, with 45 grads funded for a total of $972 million, University of Pennsylvania with 32 alumni receiving cash totaling $448 million and the Massachusetts Institute of Technology (MIT) at 32 grads with $1.076 billion in funds, rounded out the top five.

Interestingly, while the list is dominated by Ivy League and top-tier private universities, 29 college drop-outs received a cumulative $853 million, placing entrepreneurs without a degree at 7th place on the list.

Other notable trends from GraphicSprings’ study include that only 4.3% of the individuals studied who received funding were women and 16.4% were minorities. The states where alumni received the most funding include California, Massachusetts and New York.

Here are the top 10:

1. Stanford University

2. Harvard University

3. University of California Berkeley

4. University of Pennsylvania

5. Massachusetts Institute of Technology

6. Cornell University

7. Drop-out, no college degree

8. University of Chicago

9. Columbia University

10. University of California, Los Angeles