THE EXPERIENCED ECONOMY
20+ years of working life experience = successful entrepreneurial outcomes
We value and leverage the work, business and life experience of current and potential entrepreneurs and innovators. Our licensed programs enhance modern business outcomes. Designed for the Experienced Economy they improve success rates by mitigating risk, highlighting opportunities and equipping founders and innovators with the insights the knowledge and skills they need to make confident and strategic entrepreneurial decisions.
The research shows that more life experience is a better predictor of entrepreneurial success. They’ve had to handle more complexity, buying houses, building careers and businesses and even raising families. The combination of successfully completing these, not just starting them, combined with real-world experience is what helps experienced professionals, creators, strategists, innovators and entrepreneurs identify and address more realistic business opportunities. source
Working Life Experience = Better Entrepreneurial Outcomes
Entrepreneurs who are under 25 tend to perform poorly. The probability of success increases once people reach 25, then performance seems steady among people aged between 25 and 35. The success probability then starts to jump after the age of 35, jumping again at the age of 46 and remaining stead toward the age of 60.
The Kauffman Index – United States
Entrepreneurship is one of the most important activities of modern economic life. The creation and growth of new companies, as well as the closure and shrinkage of existing companies, are at the heart of “economic dynamism.” Many of the statistics tracked closely by economists, policymakers, investors, and others—such as unemployment, wage growth, and productivity—are driven by entrepreneurial activity.
The Global Innovation Index 2019
Innovation is now widely recognized as a central driver of economic growth and development. The Global Innovation Index (GII) aims to capture the multi-dimensional facets of innovation by providing a rich database of detailed metrics for 128 economies, which represent 92.8% of the world’s population and 97.9% of global GDP.
StartUp Muster Reports 2015-2018
I believe these are incredibly exciting times. As the nation’s economy transitions beyond the farm gate and the mine head, we have an unprecedented opportunity to become a regional – even a world – innovation leader. Sown from fresh ideas with a business model that aims for rapid growth in expanding markets, startup companies will play a major role in the new order. Australians are at our best when we embrace our cultural heritage of “having a go”. Wyatt Roy, MP
Big Data & Artificial Intelligence = Boom
We are on the verge of a very fast rate of technological change. If you think the Internet and mobile communications have changed the world, just wait. Coming years will be even more disruptive and amazing.
Innovation Academy Partnership
Harnessing the power of working life experience. A ten Module Program that walks experienced professionals, creators and innovators through entrepreneurship and commercialisation. Ensuring the Experienced Economy (20+years working life experience) invest in real business opportunities and not just good ideas, validated and agile business models with strong and unique value propositions.
The Experienced Economy – Entrepreneurs in Australia and Beyond
A lot has been made in Australia in recent years about diversity and inclusion. We have ventures targeted at female entrepreneurs, indigenous entrepreneurs and silver entrepreneurs. Entrepreneurship and Innovation are becoming industries in themselves. The visibility, events and activity are encouraging. Success, it seems is coming from the middle. People with work, business and life experience from their mid to late 30s through to early 60s are achieving great things in modern business. While segmenting these emerging industries into groups based on age and gender can seem divisive, there’s a real need to understand where, how and by whom successful ventures are being created. Enter: The Experienced Economy – 20+ years of working life experience matters!
The entrepreneurialism of the Aussie Workforce
The extraordinary rise of new small and especially of new micro business is being driven by a number of factors. In some cases new technology including new software has the capacity to support an entirely new business entity. In other cases business growth in traditional sectors such as construction, retail, agriculture, health and professional services is being facilitated by new technology like cloud based computing.
Experience of Female Entrepreneurs
Over 1800 new businesses were started each day by women in the US between 2017 and 2018. The number of female business owners in Australia in 2019 is over 715,000. Women are less likely to apply for and be accepted into accelerators and incubators which makes accessible programs and tools important for leveraging this experience into our start-up eco-systems.
Australian Innovation System Report
Massive trucks, their trays heavily laden with iron ore or coal, reflect our previous association with the source of our economic growth. Now it is more likely to be the brilliant chemist who has found a new process to extract minerals more efficiently and her business partner who can see the commercial application.It will be innovation-led growth, driven by entrepreneurial and disruptive actions that will sustain our role as one of the world’s leading economies in the years to come. It was Joseph Schumpeter, the prophet of innovation, who first drew attention to the role of the entrepreneur in driving economic growth and job creation. The entrepreneur is the “the agent of innovation … the pivot on which everything turns”. Mark Cully, Chief Economist, Department of Industry, Innovation and Science