Golden Oldies
While the record for the youngest unicorn founder seems to be broken every year, research is showing that youth does little in determining entrepreneurial success. In fact, it may be a disadvantage.
While the record for the youngest unicorn founder seems to be broken every year, research is showing that youth does little in determining entrepreneurial success. In fact, it may be a disadvantage.
Studies out of Wharton Business School concluded that older entrepreneurs have a massive edge in starting successful businesses.
It’s not surprising that older entrepreneurs do better given more experience and technical knowledge as well as better access to capital and networks, their advantage is underestimated. A 50-year-old founder is 180% more likely to achieve high success. At ages 25 and 45 come the most significant increases in the probability of success.
In the United States, the average age of a founder is 42. Focussing solely on high-end industries like tech, VC-backed companies, or patent-owning companies, the age rises to 43; a figure consistent with the average age in Silicon Valley.
Listen to a podcast/read the transcript on the study here.