Debunking the myth that startups are created by youngsters

Pick up any magazine on entrepreneurship, or watch the news of the latest startup sensation making waves in Silicon Valley, and you would be tempted to think that the most successful businesses are built by young whizz-kid founders. But a group of economics researchers in the US have conducted a major new study into the starting age of founders of high-growth startups, and are debunking that myth. It appears that the average age is about 41.9 years of age among all startups that hire at least one employee. Among the top 0.1 percent of highest-growth startups, that average age moves up to 45 years old. Another interesting finding from the research was that older entrepreneurs appear correlated with better startup performance. For example, the 1,700 founders of the fastest growing new ventures interviewed in the US for the research had an average age of 45, compared to 43.7 for the top 1% and 42.1 for the top 5%. All of which would seem to suggest that for older entrepreneurs, with age comes wisdom, and at a practical level, experience in their respective business fields, all of which seems to improve the changes of high growth startup success.