There is a myth that the successful tech entrepreneur is a Bill Gates-like 20-something college dropout who strikes cyber gold in his garage. Nothing could be further from the truth.
According to a recent survey by the Kauffman Foundation, the average tech company founder is pushing middle age at 39-years-old...and...nearly five times as many founders were over 45 (24%) as were younger than 25 (5%) when their companies got off the ground. The survey asked questions of 652 U.S.-born executives at tech companies started from 1995 to 2005 with revenues of at least $1 million.
To gain the business experience and personal confidence of going out on their own, on average, these entrepreneurs had 16.4 years between when they finished school and started their companies. Forty percent had a master's degree or a doctorate. Although more likely to have received a techie degree than the general population, only 37% graduated from computer-science or engineering programs.
Source: The Wall Street Journal, May 6, 2008