Contrary to popular beliefs, older entrepreneurs who start a business in their 50s are more likely to create radical innovations than younger ones.
Based on data on 2,900 founders of new ventures in Germany in 2008–2017, we found that for every ten more years of age increases a founder’s likelihood to introduce a market novelty by up to 30 percent. Thus, those late-career entrepreneurs who are highly innovation-oriented and managerially experienced are more than three times more likely to introduce market novelties than the sample average.
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Nothing is as radical as dementia.
Ideas usually aren’t the problem.
Executing on an idea is though, and executing successfully on an idea is even harder.
As such it stands to reason that people with real business experience, connections and network are more likely to have success in executing an idea.
Chance of success is low. I think it was somewhere around 13% of startups that “make it” long enough to be deemed successful.
But it doesn’t mean they have better ideas, or as the headline suggests - “are more radical”.