Debunking the Myth of the Young Entrepreneur: the Average Age of a Successful Startup Founder Is 45.
When they analyzed founders who have won TechCrunch awards over the last decade, the average age at the time of founding was just 31. For the people selected by Inc. magazine as the founders of the fastest-growing startups in 2015, the average age at founding was only 29. Consistent with these findings, Paul Graham, a cofounder of Y Combinator, once quipped that “the cutoff in investors’ heads is 32… After 32, they start to be a little skeptical.”
Azoulay, Jones, Kim, and Miranda analyzed the age of all business founders in the U.S. in recent years by leveraging confidential administrative data sets from the U.S. Census Bureau. The average age of entrepreneurs at the time they founded their companies is 42. The vast majority of these new businesses are likely small businesses with no intentions to grow large (for example, dry cleaners and restaurants). To focus on businesses that are closer in spirit to the prototypical high-tech startup, they used a variety of indicators: whether the firm was granted a patent, was located in a tech hub, received VC investment, or operated in an industry that employs a high fraction of STEM workers. In general, these finer-grained analyses do not modify the main conclusion: The average age of high-tech founders falls in the early forties. High variation across industries though. In software startups, the average age is 40, and younger founders aren’t uncommon. However, young people are less common in other industries such as oil and gas or biotechnology, where the average age is closer to 47.” “The oldest of the bunch is Philip Greenberg, who was
68 when he started Juno Therapeutics, later bought by Celgene Corp. for $9 billion.