What distinguishes Germany's 100 top entrepreneurs? This is the question addressed by a recent study initiated by the Berlin University of Applied Sciences (HTW) and the Federal Association of German StartupsTwo of the findings from the study are hardly surprising: top entrepreneurs are mostly male (96%) and have a university degree (99%).
The careers of a total of 100 top entrepreneurs from Germany were analyzed for the study "Entrepreneur Stars in Germany — What Characterizes the Top 100 Entrepreneurs?" The founders of the most successful German startups were defined as "top entrepreneurs" based on total funding. The key findings at a glance:
- Fintech (22.5%) and e-commerce start-ups (17.5%) from Berlin are favored by the top entrepreneurs.
- The group of top entrepreneurs is dominated by men (96%).
- Top entrepreneurs have a high level of education (99% have a university degree) and professional experience.
- More than half of Germany’s top entrepreneurs hold a master’s degree in economics (53%).
- More than a third of Germany’s top 100 entrepreneurs have experience in an executive or managerial position (37%).
- Before founding their own company, top entrepreneurs often worked as consultants or bankers.
- More than a third of top entrepreneurs are serial founders.
- Almost every second founder participated in a high-reach conference (48%) and expanded their network through advisory activities (29%).
Exceptional entrepreneurial talents wanted!
Prof. Dr. Julian Kawohl, Professor of Strategic Management at the HTW Berlin and co-initiator of the study, says:
"Having already examined the top founders of the largest unicorns in previous studies, this analysis also confirms that both practical experience and a substantial educational background are required to establish top-class companies in the digital context. The many established companies in Germany, especially, should take this to heart when considering their own innovation units and digital initiatives. Ultimately, German corporations also need more of these exceptional entrepreneurial talents to successfully create new offerings that meet user needs in digitalized ecosystems, just as Alibaba, Amazon, Apple, and others are increasingly doing."
Promoting female entrepreneurship
And Florian Nöll, Chairman of the Startup Association, continues:
"The study offers an extremely interesting insight into the German startup landscape: It was always a gut feeling, and now it's confirmed: Of all startups, only 15.1 percent are founded by women, but among the most successful startups, the number is just 4 percent. As interesting as the profiles of the top 100 entrepreneurs are, this number is equally shocking. It motivates us to prioritize the topic of female entrepreneurship even higher than it already does in our work. The myth that successful founders start up directly out of university has been refuted. The most successful German founders have a fair amount of professional and, in some cases, even entrepreneurial experience. The Zuckerbergs, who dropped out of university to start a startup, are the absolute exception. If you want to follow the statistics, you can only advise all students to finish their studies before founding a startup. On the other hand, the probability of founding an exorbitantly successful company is vanishingly small."
