What is the age of the average entrepreneur? A few very public examples on the extreme might skew public opinion, but the research shows experience is prized over youth – no offense, of course, to the young entrepreneurs making a difference every day.

Here’s a brief summary from the State Science & Technology Institute (SSTI):

Age is a predictor of entrepreneurial success – and not in the ways that many might expect – according to a new National Bureau of Economic Research article. While the venture capital community and the media sensationalize young entrepreneurs like Mark Zuckerberg, the authors of Age and High-Growth Entrepreneurship – Pierre Azoulay, J. Daniel Kim, Benjamin Jones and Javier Miranda – find that older entrepreneurs have more success.

In their analysis of multiple administrative datasets, the authors discover that the average founder age of a technology start-up with more than one employee is nearly 42 years old, the average founder age of the highest growth technology start-ups is 45 years old and the average founder age of technology start-ups with successful exits is nearly 47 years old.

With similar findings across a variety of industries, geographies and other subcategories, the authors suggest that the coverage of the millennial tech-entrepreneur has been overblown. Moving forward, these conclusions may prompt changes in how the economic development community designs and implements programs supporting entrepreneurship.

SSTI also has a brief recap of the first-quarter venture capital report, in which Elevate Ventures earns a mention.

PitchBook and NVCA released the 2018 Q1 Venture Monitor this week, and the data show that 2017’s trends toward fewer, larger deals are only accelerating into the new year. First financings are over $5 million for the first time since Q3 of 2006, and the average angel and seed deals are at their largest sizes in at least a decade – largely due to investments under $1 million now accounting for just 39 percent of disclosed deals.

Publicly-supported investors are leading the way in 2018 investments, according to the report, with Innovation Works (13), Elevate Ventures (11) and TEDCO (4) noted for angel/seed investments and Ben Franklin Technology Partners (7) and Connecticut Innovations (6) on the list for most active early stage investors.

The report also indicates that while several notable IPOs have brought renewed attention to exits, the number of exits in 2018 is on pace to be slower than in 2017. Finally, the report’s data on funds closing in 2018 show that fundraising — particularly for funds over $50 million — is also occurring at a slower pace than in 2017.