The Truth About Entrepreneurs: Twice As Many Are Over 50 than Under 25

PBS: The Truth About Entrepreneurs: Twice As Many Are Over 50 than Under 25

… Myths abound about the young entrepreneurs who dreamed up crazy ideas
while in their dorm room, raised millions of dollars in venture
capital, and started billion-dollar businesses. But these are just the
outliers. The typical entrepreneur is more like Albert — a middle-aged
professional who learns about a market need and starts a company with
his own savings.

Research that my team completed in 2009 determined that the
average age of a successful entrepreneur in high-growth industries such
as computers, health care, and aerospace is 40. Twice as many successful
entrepreneurs are over 50 as under 25; and twice as many, over 60 as
under 20. The vast majority — 75 percent — have more than six years of
industry experience and half have more than 10 years when they create
their startup. Nearly 70 percent start their companies to capitalize on
business ideas that they have — which they see as a way to build
wealth. …