My week has been marked by two looks at entrepreneurship -- one for those in later life, the other for those under 25.

Later Life Entrepreneurship
On Monday I attended the "Later Life Entrepreneurship Conference," sponsored by AARP and UJA Federation of New York, and hosted by the Field Center for Entrepreneurship at Baruch College's Zicklin School of Business. The small meeting brought together experts on aging and entrepreneurship to explore how the topic might best be studied. It looked at the drivers of later-life entrepreneurship and also at some of the thin research that is available on this subject. One of the interesting tidbits I learned was from Edward Rogoff, academic director of the Field Center. He cited a study that noted that age 55+ entrepreneurs had three primary motivations (this is taken from my notes, not any Rogoff document, so please accept any inaccuracies.):

• to use their skills and abilities
• to make a contribution to society
• to achieve work satisfaction

This is an interesting item given that some of the initial discussion focused on how many older entrepreneurs were using their work to provide higher rewards, and as Rick Moody of AARP noted, using it in their effort to achieve the self-actualization described by psychologist Abraham Maslow. [It's interesting that there are many examples of later life social entrepreneurs as highlighted by the recent Purpose Prize and its finalists.] The conference discussion also noted that more and more people choose entrepreneurship as a means to generate income, as they do not have sufficient retirement plans or assets to support themselves. (An article in the New York Daily News profiled some 50+ entrepreneurs who have worked with the Field Center. See 50 & Blazing Own Biz Trail.)

Best Entrepreneurs Under 25
BusinessWeek Magazine ran a 30 October 2006 special report on the Best Entrepreneurs Under 25. Included are two recent Pace University graduates, Vitaly Feldman and Alexander Koretsky, who launched Metrohorse in June 2006. Metrohorse provides a marketplace for business and personal services where buyers and sellers can meet to do business with minimal hassles. The BusinessWeek profile notes that Feldman and Koretsky dreamed of a site that would "improve the process of searching for a reliable plumber, taxi service, or virtually any other service provider." You can vote for Feldman and Koretsky as the top entrepreneurs under 25.

The Best Entrepreneurs Under 25 report contains resources useful for young people exploring the field.