Starting a business before turning 25 has become increasingly common. The traditional belief that success comes with age is being redefined, much like the obsolescence of typewriters and handwritten notes.

Today, entrepreneurial success relies heavily on mastering modern technology, and millennials—having grown up in the digital era—are especially well-equipped. From leveraging social media to learning coding skills, their comfort with technology provides a significant advantage. This is particularly relevant given that the tech industry offers some of the best opportunities for aspiring entrepreneurs. The old adage “older is wiser” seems to have evolved into a new truth: “the younger, the better.”

These tech advantages, combined with a shift in culture, have fueled a stronger entrepreneurial spirit among millennials compared to previous generations. A study by Bentley University found that 66% of millennials expressed a desire to start their own business. In 2012 alone, more than 500,000 start-ups were launched in the U.S., with companies led by individuals aged 26 to 34 receiving the highest levels of funding. Entrepreneurship is on the rise globally, with 18- to 25-year-olds representing a notable 41% of early-stage entrepreneurs, according to a GEM Global report.

The success of young entrepreneurs is evident in figures like Mark Zuckerberg, who became a billionaire at 23, and the founders of companies like Tumblr, Instagram, and Spotify, all of whom were in their 20s. Forbes’ 30 Under 30 list continues to showcase millennials across industries, from beauty products to healthcare, demonstrating the continuing trend of young innovators shaping the future.

The Lower Cost of Entry

The rising interest in entrepreneurship among millennials can be partly explained by the reduced cost and ease of starting a business, largely thanks to technological advancements. In the past, older generations had the advantage of accumulated savings, but today, the affordability of launching a business has made that less relevant. Even non-tech businesses benefit from low-cost marketing opportunities through social media.

In tech-focused start-ups, the costs have dropped significantly. Millennials often possess the skills that once required large, expensive teams. If they don’t have those skills, they can learn them quickly, as 26-year-old entrepreneur Mattan Griffel demonstrates. Griffel taught himself to build apps and websites and now runs a business that teaches others to do the same. He notes that it used to take teams of six to 10 developers to build a start-up; now, a single person with moderate skills can manage it.

Simpler coding languages, like Ruby on Rails, have also driven this shift, making it faster and easier to create websites and applications. Griffel points out that platforms like Amazon Web Services have eliminated the need for costly servers and IT staff, drastically lowering the financial barriers to entry. As a result, millennials have an entrepreneurial edge that previous generations didn’t have.

Funding has also become more accessible. Venture capitalists backed 1,500 start-ups in 2012, while angel investors funded over 50,000. Crowdfunding platforms like Kickstarter further democratize access to funds, allowing start-ups to raise money without relying on traditional investors. Crowdfunding accounted for $1.4 billion of the $2.7 billion raised for start-ups in the U.S. in 2012.

Opportunities Abound

In addition to lower costs, the digital age has created more opportunities for entrepreneurs than ever before. The rapid pace of technological change means that innovation is crucial, and start-ups are at the forefront of this progress. Fred Tuffile, Management Director of Entrepreneurial Studies at Bentley University, predicts that today’s technologies, like smartphones, will be obsolete in a decade, replaced by innovations created by today’s young entrepreneurs.

Digital businesses grow rapidly because people adopt new technologies faster than they did in the past, such as the laptop. This rapid growth is reflected in record-breaking start-up valuations, as reported by the *New York Times*. The visible success of these ventures inspires millennials to innovate, fueling their ambition and optimism beyond traditional career paths.

Millennial Role Models

This wave of optimism is partly driven by role models—young entrepreneurs who have made it big in the digital world. Griffel credits figures like Mark Zuckerberg and Dennis Crowley for inspiring his own success, and he believes that many millennials share the belief that they, too, can achieve similar feats. This “can-do” attitude is a defining characteristic of the millennial generation, distinguishing them from older generations.

Krassi Popov, founder of mobile charging start-up Veloxity, attributes this attitude to a sense of confidence instilled during childhood. In the U.S., young people are often told they are special, which fosters a desire to break free from traditional career paths and take entrepreneurial risks. Combined with their technical expertise, this confidence helps millennials follow through on their ideas and pursue their passions.

A Cultural Shift

The rise of millennial entrepreneurship also reflects a broader cultural shift. The financial crisis eroded the long-held belief in the stability of traditional companies. As a result, young people have grown more open to alternative career paths, including starting their own businesses. Griffel notes that the uncertainty brought about by the crisis made entrepreneurship a more culturally acceptable option.

During the recession, when job markets were tight, many turned to entrepreneurship as a solution. This shift away from the security offered by big corporations has only intensified the entrepreneurial drive among millennials.

Considering the increased accessibility of starting a business, the wealth of opportunities available in the digital age, and the cultural factors at play, it’s no surprise that entrepreneurship is flourishing among millennials. While older generations still have valuable experience to offer, the landscape of business is changing rapidly. Millennials are leading the charge, leveraging their tech savvy and innovative spirit to shape the future of business in a constantly evolving world.