ECONOMY

The number of people working past the traditional retirement age is on the rise – and this is a very good thing for profits, for vibrant, diverse workplaces and retaining all-important talent and experience. And among this group, an increasing number are choosing to go out on their own. The ‘silverpreneur’ statistically also has a greater chance of success than their younger counterparts. However, many older start-ups may have limited savings, or face difficulties obtaining business loans. Enter Brilliant Minds, a new fund just launched dedicated to investing in entrepreneurs who are over 50 years old. Founder Katerina Stroponiati is pioneering a visionary approach in venture capital, representing a fundamental shift in how we value the roles and capabilities of older individuals. The Luxury of Ageing sat down with Katerina to learn more about this truly inspiring vision to redefine entrepreneurship in the longevity economy.

What challenges do older entrepreneurs typically face in the start-up ecosystem, and how does your initiative address or mitigate these challenges?

Older entrepreneurs are often ignored and neglected. Ageism is one of the few discriminations that’s still broadly socially acceptable. They frequently hear things like 'ok boomer' or 'at this age?' Many experienced founders told me that they felt pressured to turn into investors by their 50s. Before launching Brilliant Minds, even the seasoned founders who pitched to me seemed shy and less confident, despite their deep expertise. Think about it—how often do we see older professionals at start-up events? The glorification of youth is so pervasive that even at longevity events, dominated by a theme directly relevant to older members of the workforce, most attendees are in their 30s.

In what ways do you believe the culture of incubators and start-up environments can be adapted to better accommodate and empower older founders?

Older founders could be better supported by creating dedicated lifelong learning hubs within incubators, tailored specifically to their needs. These hubs would offer a curriculum on emerging technologies, digital marketing strategies, and the latest industry trends, ensuring older founders not only stay relevant but lead innovation. Complementing these educational efforts, hubs could host regular meetups where older founders can share their journey—why they launched their ventures, the challenges they faced, including age discrimination, and their continued passion for innovation.

Could you elaborate on the importance of blending wisdom with youth in entrepreneurial ventures, and how do you facilitate collaboration between older entrepreneurs and younger advisors?

As we age, one of the greatest challenges is keeping our minds open and flexible - understanding the zeitgeist, the new trends. So, bringing in advisors to work with the founders is crucial to their understanding of new markets and new dynamics, and how they can leverage new technology to apply their expertise. Innovation is possible only when you understand the culture you are working in and where the world is heading; otherwise, you become out of touch. So far, we are used to seeing young founders with older advisors. Brilliant Minds is introducing a reversed model that will lead to new types of innovations and outcomes that we've probably never seen before.

How do you measure the success of the Brilliant Minds fund beyond financial metrics, in terms of societal impact and the redefinition of ageing?

The vision is to cultivate a new archetype: the modern human who continues to learn, innovate, and contribute to society, regardless of age. This will not only help with personal wellness (reducing cognitive decline, anxiety and depression) but also break the repetitive cycles that waste valuable experience and destine new generations to repeat old mistakes.

What government initiatives or policies do you believe are necessary to further support older entrepreneurs and promote their inclusion in the start-up ecosystem?

Shifting from retirement-designed services to continuous learning. For example, when students leave college, there are orientation programs, internships, grants, scholarships, student-like career programs - everything is set up, and there is a policy and an industry around it. There should be the same for people who retire from their first career and are starting a new chapter: more lifelong learning programs, lifelong career guidance and career transition workshops..

Beyond that, the state could incentivise and encourage founders over 50 through tax benefits.

Looking ahead, what are your long-term goals and aspirations for the Brilliant Minds initiative, and how do you plan to scale its impact?

The long-term goal for Brilliant Minds is not only to redefine entrepreneurship but also to create a new market. We plan to enhance our support ecosystem through workshops, mentorship programs and networking events. Our aim is to highlight this growing market, encouraging the launch of additional initiatives and businesses that cater to and capitalise on the strengths of experienced entrepreneurs.

What prompted your transition from investing in longevity to focusing on investing in silver entrepreneurs within the tech sector?

I am still invested in the longevity space as an angel investor, but the transition to focusing on silver entrepreneurs in the tech sector was sparked by the realisation that while everyone is working on drug interventions enabling us to live to 110 years old, our systems and mindsets are outdated, built for a life expectancy of just 65. There's a growing gap that needs addressing. In the investment world, it's often said that after 30, you're done—this is viewed as innovation, but it’s the opposite. Extensive research shows that founders over 50 are in fact three times more likely to succeed compared to those aged 25-35. Brilliant Minds isn’t just a fund; it's a necessary proof that the current thinking is profoundly mistaken.

Katerina Stroponiati the founder of Brilliant Minds, is pioneering a visionary approach in venture capital by focusing on founders over 50, challenging age-related stigmas in entrepreneurship. Previously, she was the co-founder of Monday Capital and Bitcoin Labs, which was acquired, and she was also the founder of an environmental tech company.