Earlier this year an article in Forbes cited that twice as many successful entrepreneurs are over the age of 50 as compared to under the age of 25. This is a counter-intuitive finding given that more than ever college students are seeking the entrepreneurial experience.
At a recent brown bag seminar on establishing stock option programs for new startups, I observed eight of the 19 participants, 42%, to be over 50 years of age. Granted, the mere observance of a person’s age is less than empirical proof, yet according to social scientist Erik Erikson’s work on psychosocial development in individuals, this observance is in line with our need for productive creativity between the ages of 40-64.
One other observation of interest, there wasn’t one woman entrepreneur in the audience; which was surprising given the pace at which women-owned firms are being created.