In the university sector there are some startups, but they are not significant.

Judge as of 2026-03-04 within the context Cowen meant (most likely new startup universities or higher-education ventures challenging established universities). True: evidence shows a few such startups exist but they hold a negligible share of enrolment, funding or influence relative to established universities. Mostly true: startups exist and are minor, with one or two that have notable but still small scale. Mixed: some startups have gained meaningful scale or influence, so 'not significant' is debatable. Mostly false: startups exist and several have significant market share or influence, so the claim understates them. False: there are no such startups, or the startups dominate or substantially reshape the sector.

Set before the research began.

1. E1 More Startup Universities Can Revive Higher Education Forbes (contributor Bryan Penprase) · 26 September 2025

   “While the report identifies many new institutions, most are very small, and comprise a tiny fraction of institutions by enrollment, and the PSC report notes that 98% of college students attend a college that is more than 20 years old.”

2. E2 Reforming State Authorization of Colleges to Boost Competition and Lower Tuition - FREOPP FREOPP (Foundation for Research on Equal Opportunity) · 30 September 2026

   “Just one percent of four-year college students attend a school that formed in the 21st century.”

3. E3 More Startup Universities Can Revive Higher Education Forbes (contributor Bryan Penprase) · 26 September 2025

   “Olin College of Engineering has matched MIT in one report studying the leading institutions in engineering education.”

4. E4 Alternatives Won’t Replace College, but They Must Adapt (column) Inside Higher Ed · 5 October 2026

   “Its primary (and tiny) institution, Minerva University, won approval from a mainstream accreditor in 2021, but Minerva has arguably influenced higher education more through its affiliations with more than 30 universities around the world.”

E1 cites a PSC report: most new institutions are very small, and 98% of college students attend a college more than 20 years old. E2 says that only one percent of four-year college students attend a school formed in the 21st century. Together these show that startup institutions hold a negligible share of enrolment. However, E3 reports that Olin matched MIT in one report on engineering education, and E4 says Minerva has arguably had influence through affiliations with more than 30 universities. These suggest one or two startups may be notable despite their small size, which fits "mostly true" under the criteria.