statistics gleaned from ChubbyBrain's new Funding Recommendation Engine. To recap, the recommendation engine helps entrepreneurs find the rest investor match, based on the latter's previous patterns. And ChubbyBrain released the demographics from early enrollees in the program, revealing some interesting statistics about who is seeking startup funding.Last week, we looked at some of the
But ChubbyBrain has given ReadWriteWeb an even closer look at aggregate-level data for a certain subset of that population, based on those folks who used invitations from us to sign up for the service. So how do ReadWriteWeb entrepreneurs stack up?
While overall, ChubbyBrain found more New York-based entrepreneurs who'd registered for their recommendation engine than Silicon Valley-based ones, it's Silicon Valley with a sizable lead when you look solely at the ReadWriteWeb audience. Second is Texas, and New York is fourth.
Younger, More Educated
ReadWriteWeb readers also trended younger than ChubbyBrain's aggregate data. Only 34% of the startups who came to ChubbyBrain from ReadWriteWeb had more than 10 years of work experience, compared to 67% from all sources.
But even though they are younger, ReadWriteWeb readers are well-educated, with 74% having at least a Bachelor's degree and 22% having a Master's degree or higher.
Early Stage Startups
It's not surprising, perhaps, considering the purpose of the ReadWriteStart channel is to offer tips and guides for first-time and early-stage entrepreneurs, that most of the people who signed up for the ChubbyBrain Funding Recommendation Engine were early on in their startup's history. But 70% said they were in the idea/concept stage, significantly higher than the aggregate data (which had 53% listing themselves as such).
Nevertheless, 68% had already raised some funding, which was the opposite of the aggregate statistics which showed only a third of startups had received funding.
Data is Beautiful
And on a different note, here's another gem extracted from the ChubbyBrain data: statistically speaking, naming your company a word that begins with C, S, or T bodes well for getting investment. You can read more of its very tongue-in-cheek look at the correlation between startup name and funding here.