...is understanding the unique values, circumstances and communication styles of iGen, Millennial, Gen X and Baby Boomer entrepreneurs - then connecting, matching and advising them to launch intergenerational startups.
Why does it matter?
According to Forbes, "80% of entrepreneurs starting a business fail within the first 18 months." How we create (and fund) viable startups must change; we need more intergenerational co-founders.
Starting a company with intergenerational co-founders yields many benefits: diversity of know-how, funding availability, uncovering market niches, anticipating costly pitfalls, and tapping into a larger pool of skills and experiences.
Angel investors prefer to invest in startups with two or more co-founders with complementary skills and experiences.
What is the problem?
The problem is that most investors shy away from older entrepreneurs who are at the end of their careers, as well as younger, less experienced business owners. There simply is no platform that matches younger & seasoned entrepreneurs to meet, get to know, and then launch intergenerational startups... Until now!
Inspiring 4 generations of entrepreneurs (iGen, Millennial, Gen X and Baby Boomer) to launch startups together
What is 4GenNow?
An international movement of intergenerational entrepreneurs
*Registered Non-Profit Corp (State of MA as of 1/19/2017)
How do we make it happen?
Connecting, matching, and then advising 4 generations of entrepreneurs
4GenNow connects, matches & advises Gen Z, Millennial, Gen X and Baby Boomer entrepreneurs to launch successful intergenerational startups.
When starting a company find a partner twice (or half) your age.
The proof is in the (academic) pudding
Researchers at 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.
Research by the 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.
In an analysis of billion-dollar startups reported by TechCrunch:
- 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
We need to connect generational entrepreneurs.
Census Bureau data reported from the Kauffman Foundation and Brookings Institute state the number of new companies as a percentage of US businesses dropped 44% from 1978 to 2015.
"There are few mechanisms in place to facilitate a 'matching' process - to get the younger, inexperienced generations to meet and know the older, experienced generations."
- Global Institute for Experienced Entrepreneurs
Having an intergenerational team that fosters diversity in backgrounds, experiences and perspectives yields many advantages, like diversity of know-how, funding availability, uncovering market niches and anticipating costly pitfalls, and wider pool of needed tech skills.