The age-old question that we've asked ourselves at one point or another: Is college worth it? What can we get out of a university degree that we couldn't attain elsewhere through real life experience? It's a debate that has gone on for ages and will not end any time soon, but with the ever rising tuition costs, insanely expensive amounts of debt, and loan interest up the wazoo, it's a worthy query to contemplate.
For the startup community, the discussion never seizes. From Peter Thiel's fellowship promoting customized learning methods to the Zuckerbergs and Jobs of our generation who prove that dropouts are not necessarily the dazed and confused, the techies of today wonder how much an ivy league education matters. Take it from Thiel, Facebook's first investor, "At a time of increasing concern over the value of a college education and a national student debt burden that tops $1 trillion," perhaps diplomas are not always necessary for a successful future. Are there other routes we can take to achieve our dreams without spending money we don't have? According to the Gist, why yes, there are.
Staff at the Gist created an infographic that assesses the difference between those that choose the education route and those that choose the experience path in terms of their success while unveiling details that may combat the myth that founders are most often college dropouts. The information cited portrays how accelerators like Y Combinator and TechStars have been greatly beneficial to a great amount of amazing startup founders who have made fortunes with their innovative ideas. Decide for yourself while you pour over the insightful data contained in the infographic, education, experience, or a mix of the two? What kind of concoction will deliver success?
Highlights:
- 46% of founders received an undergraduate degree
- VCs gave more funding to founding teams with a lower level of education
- First year startup failure rate is 40%, whereas TechStars alumni only have a 6.5% failure rate
- TechStars has created 92 companies since 2007
- Y Combinator has created 144 companies since 2005
