{"id":47885,"date":"2023-10-20T15:56:25","date_gmt":"2023-10-20T15:56:25","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/a-founders-level-of-education-can-indicate-the-type-of-startup-theyll-build-startup-muster-report-startupsmart\/"},"modified":"2023-10-20T15:56:25","modified_gmt":"2023-10-20T15:56:25","slug":"a-founders-level-of-education-can-indicate-the-type-of-startup-theyll-build-startup-muster-report-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/a-founders-level-of-education-can-indicate-the-type-of-startup-theyll-build-startup-muster-report-startupsmart\/","title":{"rendered":"A founder’s level of education can indicate the type of startup they\u2019ll build: Startup Muster report – StartupSmart"},"content":{"rendered":"
The level of education attained by founders across the startup sector may influence the type of new ventures hitting the market, according to a new report released by Startup Muster and Universities Australia.<\/p>\n
According to Startup Smarts: Universities and the Startup Economy<\/em>, retail is the \u201ctop destination\u201d for founders with high school as their highest level of education, while startup founders with a PhD are more likely to be found building ventures in \u201cmedtech, healthtech or biotech\u201d.<\/p>\n \u201cWith all these industries, it\u2019s so dispersed in terms of what you can actually do,\u201d Startup Muster chief executive Monica Wulff tells StartupSmart.<\/em><\/p>\n Wulff notes that while many of the entrepreneurs she spoke to may not have engaged in a specialist startup program at university, they did benefit from the \u201cwealth of connections\u201d their education brought.<\/p>\n The report is based on 685 verified startups founders in Australia who participated in a survey conducted by Startup Muster between July 4 and August 15, 2016.<\/p>\n \u201cEducation startups are also among the top three industries for founders with a bachelor degree and graduate diploma,\u201d the report states.<\/p>\n \u201cFor founders with a vocational education, the fitness or wellness industries had strongest appeal.<\/p>\n \u201cFintech and content or media were popular industries irrespective of the level of educational attainment.\u201d<\/p>\n Universities Australia chief executive Belinda Robinson said the report, which also outlines more than 70 different startup programs offered by Australian universities, highlights the crucial role tertiary education institutions play in strengthening the burgeoning startup sector.<\/p>\n \u201cStartups are projected to create more than half a million jobs over the coming decades and are already contributing more than $160 billion to the Australian economy,\u201d Robinson said in a statement.<\/p>\n Of the founders Startup Muster surveyed, more than 80% hold a university qualification and the top skills of founding teams reflect the professional level of education attained:<\/p>\n \u201cThese include software development (64 percent), business (61 percent), marketing (37 percent), scientific research (13 percent), engineering (14 percent) and legal skills (11 percent).\u201d<\/p>\n<\/blockquote>\n The study also shows that female startup founders are more likely to have university qualification than their male counterparts, and nearly 30% of founders attended university overseas.<\/p>\n \u201cThis is not surprising\u2014given that 67 percent of startup founders were born in Australia, while the remaining 33 percent were born overseas,\u201d the report states.<\/p>\n \u201cEighty-nine percent of female founders\u2014nearly nine in ten\u2014have a degree, compared with 83 percent of male founders.\u201d<\/p>\n\n