Better With Age – Best Tech Entrepreneurs Start at Age 39-40

Better With Age – Best Tech Entrepreneurs Start at Age 39-40

Bloomberg Television had a great piece recently about the fake stereotype of startup owners in the tech industry. According to Vivek Wadha’s study, people at the age of 39-40 are the most likely to succeed with a startup.

“Even though there are some young successful talents for instance in the social media, the vast majority of technology entrepreneurs are at the age 39 when they start their company. Noble prize winners, the biggest innovators are also around this age” – says the Vice President of Singularity University. The simple reason for this according to Vivek Wadha is that by this time people have the right experience and the urge to create something new. They have the experience and the skill to motivate and to manage people, to handle finances and most importantly to “get thing done”.

Bloomberg quotes two angel investors in contrast with Wadha’s study:

Ron Conway the “king of angel investors” says that entrepreneurs are born to be entrepreneurs, so when the idea pops in their head they almost have to drop out from college.

Vinod Koshla (56) of Khosla Ventures says that people under 35 are the people who make change happen. People over 45 basically die in terms of new ideas.

Vivek Wadha thinks that this view is the reason why venture capitalists have 90+% failure rate, which means they are in a miserable condition. Wadha says that angel investors usually like young talent because they look at them like god. In reality an angel investor can only be successful nowadays, if he has the right team which turns an idea into business. The Vice President of Singularity University highlights in his research the fact that angel investors tend to focus on young white male entrepreneurs which is wrong concept if you look at the diversity of really successful startup owners.

For “older” success Vivek Wadha brings the example of Steve Jobs, who basically restarted Apple in an older age and presented iMac and iTunes when he was 45.

In Firm Value’s October 2009 edition István Préda of IMAP MB Partners summarized the book of Gene Landrum titled: "Entrepreneurial Genius", where he investigates the common traits of Billionaire entrepreneurs and how much time they needed to get to the top. Wadha’s study and the book have a very similar conclusion. Read it here!

Source: Bloomberg