In America, we create and fund startups with the wrong teams
- Having the Wrong Team is the #3 reason why startups fail
"80% of entrepreneurs starting a business fail within the first 18 months" Forbes
Angel investors prefer to invest in startups with two or more co-founders with complementary skills and experiences but shy away from older entrepreneurs at the end of their careers as well as younger, inexperienced entrepreneurs
- No platform matches younger & seasoned entrepreneurs to meet, get to know, and then launch intergenerational startups
What This Means
America's Entrepreneurship Deficit
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.
- "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"
Ewing Marion Kauffman Foundation
Match, advise 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 many advantages: diversity of know-how, funding availability, uncovering market niches, anticipating costly pitfalls, 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