"The commonly held belief that entrepreneurs are young college students working out of their dorms is simply wrong," says study author Vivek Wadhwa of Duke University's Center for Entrepreneurship and Research Commercialization. "People typically come to a stage where they're tired of working for other people. They think, 'I'm 40 and I haven't made it big yet. This is my last chance.' That really spurs the entrepreneurial spirit."

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