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2 commentsThursday, May 1, 2008

Tech Founders Not All In Their 20s

Average age is 39

2 Comments

By Mangi (WPN reader) - Sun, 05/04/2008 - 21:20

It is never easy being an

It is never easy being an entrepreneur. Challenges that come with any business may disillusioned many people trying to make it big. Unless with proper marketing and business strategy, I doubt it a 20 year old can sustain a business even if there are stories about the tech students becoming millionnaires at such an age. The notion that some killer applications can turn some kids from rag to riches is blown out of proportion. In my country, most of the tech companies which are considered successful are "connected" to certain middle age persons. NO one will listen to you even if your idea is that good unless they were told to help you out by some political "cables".

By Jim Hobson (WPN reader) - Sun, 05/04/2008 - 11:50

Knowledge and Understanding

I think that the notion that tech firms are started by 20-somethings developed from the news stories focusing on those that found good fortune. Our firm, like many of our associates' firms, were started by middle aged guys that had spent years developing business skills while staying abreast of technology.

The results are businesses that are operated by people with knowledge and understanding. This is to say that decisions are made based on sound business principles and that client projects are completed in a manner conducive to business (not showcasing whiz bang effects).

Geographical location, for us, has relevance only for having a large pool of prospective clients and for having a respectable pool of employees. The idea of founding our company when we were in our 20's is laughable. I don't see how "kids" can run a profitable business unless they have some well heeled investor/mentors. (Note the earlier comment about needing knowledge and understanding.)

As for how to foster greater tech entreneurship, I think that this is going to be an organic process where experienced people become disillusioned with corporate nonsense and move out to take control of their life. Such angst generally isn't prevalent among the 20-somethings thus the higher percentage of older business people becoming entrepreneurs.