By now, you're probably familiar with the Forbes 30 Under 30. It's one of the most prestigious awards a young entrepreneur can be granted -- a testament to the power of youthful creativity paired with business savvy.
And this prestige isn't unwarranted. According to a recent press release issued by Forbes, this year saw over 15,000 nominations for only 600 honorees (there are 30 honorees for 20 categories, which span from art to food & drink to venture capital). As Forbes notes, that means being selected as part of the 30 Under 30 is more exclusive than getting accepted to Harvard.
Recently, the Under 30 Class of 2017 was announced -- featuring big names like social media personality Kylie Jenner, actress Margot Robbie, and singer Gallant. But aside from the fact that they've been bestowed with a prestigious award, here's some stats on the Under 30 Class of 2017 that might take you by surprise.
1. More than half started their business to "solve a problem." Have you heard the adage, "Don't ask your kids what they want to be when they grow up -- ask them what problem they want to solve"? This sentiment rang true for the Under 30 honorees, of whom 57% said that they started their business not to make money or pursue fame, but to solve a problem in the world.
2. They're a strikingly global group. Just around 100 of the honorees -- that's one out of six -- are immigrants. They hail from 44 countries from all across the globe.
3. Grit is more important than passion. Though "follow your passions!" has become something of a cliche among entrepreneurs, this year's group listed "Passion" as less crucial than "Grit" when naming the most important traits for entrepreneurs. 35% cited "Grit" as the most important trait, whereas 21% cited "Passion."
4. They see their generation as being innovators. Millennials might get a bad rap in the media, but the Under 30 honorees see great potential for innovation in their peers. 49% of this year's class described millennials as "Innovators," 23% as "Idealists," and 18% as "Influencers."
5. They measure their success in terms of fulfillment, not finances. A paltry 4% of honorees said that they pursue their business endeavors primarily for fame or fortune. A whopping 48%, on the other hand, describe success as being tantamount to liking yourself and what you do.
The 2017 honorees will convene this year at the annual Under 30 Summit, is a can't-miss event for young entrepreneurs. Last year's event, hosted in Boston, attracted over 5,000 young changemakers from all across the globe.