STEM Education Entrepreneurship Might Be For You!
Are you an Encore Entrepreneur? Did you know that 26% of new entrepreneurs are people 55+?
We have some good news! According to the Age and High Growth Entrepreneur study, successful entrepreneurs are middle aged, not young. Experience, not youth, is an asset.
This data is from a fascinating study by MIT, Northwestern University and NBER or National Bureau of Economic Research.
Summary Study Facts
26% of new entrepreneurs are people aged 55 – 64?
Data shows that the mean age of founding a venture is 41.9 years. This increases to 44 years of age for high technology startups.
The mean age at founding for the 1-in-1,000 fastest growing new ventures is 45.0 years. These are the 1,700 founders of the fastest growing new ventures (the top 0.1%) of U.S. firms.
Not what you expected?
What’s more, while most studies do not consider gender in startup success rates, the number of businesses owned by women in the U.S. has more than doubled in 20 years. Women are starting up an average of 849 new businesses every day.
Furthermore the Age and High Growth Entrepreneur Study shows that prior experience in the specific industry predicts much greater rates of entrepreneurial success. These findings strongly reject common hypotheses that emphasize youth as a key trait of successful entrepreneurs.
Encore Entrepreneurs, both men and women, account for a growing number of new entrepreneurs and their ventures are as likely if not more likely to succeed.
So why STEM Education Entrepreneurship? STEM is the Future! There is a dire need for STEM education at virtually every age group globally. There is a high demand for workers trained in STEM fields. STEM jobs are the fastest growing category of jobs. STEM jobs pay more.
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