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Clean Tech Entrepreneurship Boom?

Today The American, a Journal of the American Enterprise Institute, put out a story entitled “Old and in the Fray: The Coming Entrepreneurship Boom” which discusses the future of jobs in America. This article tied together the notion that most successful entrepreneurs aren’t the 20-34 aged Google and Facebook guys to the fact that our population is shifting to older more experienced (entrepreneurial ripe) workers… whose careers are being disrupted by the economy and changes in corporate career longevity.

Life expectancy in the US is also increasing and advances in technology are making it easier and less expensive to begin a startup. Not only can more people afford it but they can do it later in life with increased health. The article goes on to suggest that these older retiree-aged entrepreneurs will also become great mentors to the younger generation of twentysomethings (like me) who grew up in an entrepreneurial boom time.

Having worked at Google myself, meeting both of the founders, as well as several startups in the Bay Area I was injected with the entrepreneurship bug at a young age. Clean technology and green business are on the horizon and many companies are shifting their images and practicing corporate stewardship to get onboard, Google notwithstanding. When it comes to cleantech entrepreneurship the challenge is coupling experience with startup capital and connections. These are all things that the older generation of workers currently possess. The American points this out in its article stating “Contrary to popularly held assumptions, it turns out that over the past decade or so, the highest rate of entrepreneurial activity (a measurement of new business creation) belongs to the 55–64 age group.” and that ” Life expectancy . . . keeps extending farther and farther: by 2050, American life expectancy will be 83 years, compared to 78 today.”

Startup costs and barriers to entry for creating solar, wind, and electric vehicle products are much higher than internet companies. Even internet linked startups dealing in smart grid technology and electric vehicle charging infrastructure rely heavily on the ability to network with local governments and regulating bodies, something that twentysomethings aren’t as proficient at and internet startups are able to avoid. These obstacles are inherent to the creation of a solar pv system with a 10 year warranty. All the time I hear investors say “you can’t sell a ten year warranty if your company hasn’t been around for at least five years” and when the big players all offer that kind of product protection, entry becomes very challenging.

I believe the fiftysomethings are going to luck out a gain, just as they have for the past 50 years with the rise of the internet age. They are positioned well in terms of work experience, savings, and ambition and will be able to revisit their youthful 60’s and 70’s green culture with the clean tech movement, only this time they will make a hefty profit. For those seeking jobs in the green job market this is great news because it means you will have more and more small companies to apply to and you will gain the knowledge and experience to become an entrepreneur yourself one day.