Kauffman Foundation: America's Entrepreneurship Deficit
- "The long-term decline in entrepreneurship has dragged down productivity, wages and living standards for all Americans
- Fewer startups mean a lower quality of life"
Create and fund startups with co-founders from different generations
Generational Diversity is the Ultimate Competitive Advantage
Intergenerational teams foster diversity in backgrounds, experiences and perspectives to yield:
- smarter decisions and more innovation by bringing the right product/service to market and not running out of cash
- diversity of know-how, funding availability, uncovering market niches, anticipating costly pitfalls, and a wider pool of needed tech skills
Find a Co-Founder Twice (or Half) your age
- Duke and Harvard Universities looked at startups earning at least $1 million and discovered that:
-Founders’ median age was 39
-Twice as many were older than 60 as were younger than 20.
- Kauffman Foundation found that:
In every year from 1996 to 2013, Americans in the 55-64 age group started new business at a higher rate than those in their 20s and 30s.
-Average founder on the unicorn list was 34
-Founders of LinkedIn, the 2nd most valuable unicorn in their study, averaged 36
-Founders of the third most valuable, Workday, averaged 52