When most people think of startups, they imagine twenty somethings working long days. But a growing number of tech entrepreneurs are over 40. According to studies from the Ewing Marion Kauffman Foundation, those over 55 are twice as likely to start successful companies than people between 20 and 35.
Older entrepreneurs often have to negotiate an unfamiliarity with tech jargon or a lack of technical expertise. They overcome this by hiring someone who knows the terrain. Their competitive advantage takes the form of business experience, particularly in marketing, project management and prioritizing time. They can also transform existing their contacts into clients or advisors.