🫂The Average Age Of A Startup Founder

59% of the startup founders worldwide are over 40, and just 16% are between 20 and 30 years old.

📌According to the US Census Bureau, the average age of founders across all businesses worldwide is 42 years.

👕Source

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🔥There Are Over 10,755 Fintech Startups In The United States As Of 2024

This number has doubled since 2020, when only 5,686 fintech startups existed.

👌The fintech market in the United States is worth $4 trillion as of 2024 and is predicted to grow at a CAGR of 11% till 2028.

🔉That means that the number of Fintech Startups in the US will also increase rapidly in upcoming years.

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🫂The Average Cost Of Starting A Business

This may vary depending on factors like industry, products, services, and store location.

🛡The cheapest businesses may cost as little as $12,000 initially. In contrast, other businesses, like restaurants, may cost $400,000 or more.

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🫂71% Of Startup Founders Have Completed Just A Bachelor’s Degree

Nearly three-fourths of startup founders have just a bachelor’s degree. While 16% of the founders stated they have a master’s degree.

📝Just 3% of the founders worldwide own a doctorate.

🔃The education level of a person does not make him a successful founder. However, a person’s experience and knowledge in the industry help a startup succeed.

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📧There Are Over 26,300 Fintech Startups Worldwide

This number has more than doubled since 2019, when there were only around 12,000 fintech startups.

🗯The United States produces the most value in fintech, with 134 unicorns in 2024.

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🏳️Health Tech Startups In The United States

This number has grown rapidly in the past three years. Further, the experts predict that the number of health tech startups will reach 50,000 by 2025.

🔗Healthcare startups have the potential to impact global health disparities significantly. Factors like poverty and socioeconomic conditions drive these disparities.

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🎤Agtech & New Food is the fastest-growing startup industry

Agtech & New Food startups experienced a 128% increase in funding between 2021 and 2022, the largest increase among all industries.

📌Only 2% of global startups are Agtech & New Food.

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➡️AI startups attract over $24 billion in funding per year

Funding for AI startups increased 327% between 2016 and 2020.

➡️Grammarly is currently the highest-valued AI startup at $13 billion.

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📟Cannabis startups raise an average of $1.86 million from seed-stage investors

As more US states legalize recreational marijuana, investors are seeing opportunities in cannabis startups.

💬Online retailer Dutchie — valued at $3.75 billion — pulled in $350 million in Series D funding.

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🤚San Francisco is the highest-ranked city for startups

StartupBlink ranks every global startup city based on startup quality, quantity, and the overall business environment. San Francisco leads the rankings by a huge margin with a 546.427 score.

🔥Rounding out the top 5 best cities for startups are New York (223.407), London (127.426), Los Angeles (116.943), and Boston (103.337).

👕Source

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🫂80% Of The Startups In The United States Fail

The highest Startup failure rates are recorded in South Africa. The Major reasons are lack of funding, regulatory obstacles, infrastructure deficits, limited mentorship, frugality issues, and inadequate marketing and branding.

📌Canada and France, too, have a similar failure rate.

👕Source

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🤚Exit value & trends Q1 2024

On the back of the Reddit and Astera Labs IPOs, Q1 saw a 77% increase in exit value compared to Q4 2023, marking a positive shift.

🕔However, it’s important to note that the exit value of $18.4B in Q1 was still well below the $269.2B peak in Q2 2021.

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🔗Fundraising landscape

Despite the uptick in exit value, the fundraising landscape remains challenging. Q1 saw the establishment of only 100 new venture capital funds, barely above the decade-low figure of 99 from Q1 of 2023.

🐢This number is also less than half the record high set in Q2 2022, suggesting ongoing difficulties in attracting capital into the VC space.

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🗯Capital raised

The amount of capital raised by these 100 funds was a decade low at $9.3B. To put this in perspective, the number reported in the first quarter of 2022 was $77.8B. If (and we expect this to be the case) we see more IPOs and successful exits in the coming quarters, capital should be freed up and available to reinvest, hopefully seeing this number creep back up.

🎞However, as discussed in previous quarterly updates, venture capital funds are facing much stiffer competition from other asset classes, so it will be interesting to see how much of the capital is actually reinvested into the venture space.

👕Source

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🫂The Number Of Mega-Deals Continue To Increase

A “unicorn” is a privately held start-up that has reached a $1 billion valuation.

⤵️It used to be a term that described a very small and exclusive cohort of private companies. That has now changed.

⤵️Searches for the term “unicorn” have risen by 112% over the last 15 years.

👕Source

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