Startups have experienced a massive expansion over the past decade, although they’ve been present for longer than that. Historically speaking, there were several deciding moments over the years, which led the industry to its current state.
As illustrated by the guys at SmallBizGenius through appealing visuals and a straightforward infographic, it all started back in the late 1990s. At the time, people were familiar with this new model of business ventures as ‘dot-com’ companies, although it wasn’t too long before things started looking up for these establishments.
In fact, just the second half of the 2000s saw a massive rise in deals by 73% and investments by 231%. With technology coming to the rescue, startups started spreading globally, with certain cities distinguishing themselves as “startup hubs”.
Nowadays, anyone looking to dip their toe into the world of startups is advised to get familiar with some key facts and stats about this line of work beforehand. Anything from the place you live and the financing mode you are planning to implement, all the way down to your age and gender can play a role in the overall outcome.
Here’s an illustration: a 50-year-old startup founder is 2.2 times more likely to succeed than a 30-year-old. And as far as gender is concerned, women-led private technology companies have been estimated to achieve a 35% higher return on investments than those run by men.
Finally, if you’ve made up your mind and are ready to launch your venture and are lucky enough to get to choose your location, Chicago, Melbourne, Austin are some of your top choices.
To find out more startup-friendly locations and many more stats and facts from the world of startups, check out the infographic below.