TLDR:
- Most startup companies are not started in Silicon Valley, contrary to popular belief.
- The average age of a typical founder is 42, and most startups never raise venture capital.
In the article “Tom Snyder: Entrepreneurship is everywhere,” the author challenges the common narrative surrounding startups and entrepreneurship. While Silicon Valley is often associated with successful tech startups, data shows that the majority of new startup businesses are actually formed across the US, with only a small percentage originating in Silicon Valley. The average age of a first-time startup founder is 42, debunking the myth of the young college dropout entrepreneur.
The author emphasizes that most startups never raise venture capital and many founders prefer a slower-growth approach that allows them to maintain ownership and control of their companies. While media coverage tends to focus on venture investing and big fundraise stories, the reality is that successful startups can grow through their own revenue and occasional bank loans.
The article highlights the positive startup activity in the Triangle region, with over 300 startup companies achieving at least $1M in annual revenue and/or 10 employees. Investment funds like the Triangle Tweener Fund, Primordial Capital, and Jurassic Capital are providing early stage funding to support local startups in the region.
Overall, the author encourages a shift in the narrative to recognize that new business activity is happening everywhere, not just in Silicon Valley. Events like Grep-a-palooza and the Gig East Summit in North Carolina showcase the diverse entrepreneurship and tech startup activity taking place outside of traditional tech hubs. Entrepreneurship is truly everywhere and it’s important to support the growth of all startups, regardless of their location.
