The changing face of entrepreneurial success – younger, female, global

Regent’s University London’s analysis of over 5,000 Forbes 30 Under 30 and Fortune 40 Under 40 recipients since 2012 shows an increase in younger business people, female founders and those who have lived and studied overseas.

According to the data, the number of people founding successful businesses between the ages of 20-24 has overtaken those aged 25-29, suggesting that more people than ever are founding businesses either during or straight after university.

Also, a record number of people are meeting business partners whilst studying for their degrees, suggesting universities are increasingly becoming breeding grounds for entrepreneurial success. Regent’s University London found that a quarter of those included in Forbes 30 Under 30 lists over the last three years met their business partners at university, a five per cent rise in the last decade.

Those meeting business partners at university are most likely to found successful tech businesses, including Andy Fang and Stanley Tang, who founded technology powerhouse DoorDash in 2013 after meeting at Stanford.

And it’s not just the people that affect success but the location of studies too – with analysis showing a 12 per cent increase in Forbes 30 Under 30 recipients studying in international universities. With companies that move into new geographies 22 per cent more likely to achieve above-market growth, the link between international experience and business success has never been clearer.

For example, Forbes 30 under 30’s Shayan Mahmud, who studied International Business at Regent’s University London, founded creative agency Eikon7, after meeting his co-founders while studying abroad at university.

The research also shows more women are finding success in business, with an eight per cent rise in female founders making the Forbes 30 Under 30 list and a 29 per cent increase in the Fortune 40 Under 40 list in the past 13 years. There has been a particularly high increase in women in biotech, especially women’s health technology, as female founders pave the way for innovation that tackles issues like menstrual care and fertility.

Professor Geoff Smith, Vice-Chancellor & CEO at Regent’s University London comments: “Our research shows that the path to success has changed dramatically in the last 13 years, with entrepreneurial spirit and good connections becoming the most important factors for business success. As a result, we’re seeing an increasingly diverse mix of entrepreneurs achieving incredible things, regardless of age, gender, or location.

“With more people founding businesses during their studies and with people they meet in university, it’s clear that the years we spend in higher education are crucial in dictating our path in life. So, it’s more important than ever that ambitious young people opt for universities that are going to provide them with the connections, experience, and global perspective needed to thrive in the modern business world.”