Being young touted as good potential for building online tech startups

A couple of entrepreneurs attending a panel at the ongoing New York Internet Week say that people under 30 have more advantages in building tech startups because they are more tolerated to make mistakes, more adaptable to technology transformation and more willing to take risks.

"It's alright for young people to say they have no experience or access, what really matters are ideas and passion," said Umang Dua, 28, a speaker of the panel and also cofounder of Handy, an online platform for home services.

Tuesday's panel featured a topic about building technology startups.

According to Dua, he cofounded Handy in 2011 as a practical solution to an age-old problem: helping people find trusted, effective professionals for common household services such as cleaning. His business has been flourishing ever since its launch.

Eben Bayer, 29, is the cofounder of material science company Ecovative. "A great benefit of being young is that you can ask stupid questions and people will be happy to answer them," he said.

Maisie Devine, 26, also a speaker of the panel, recalled that she cofounded Poacht to help match passive candidates to open positions from the internet.

"Young people tend to be not happy with the bureaucratic structures that the older companies have, they are willing to take the risks to go to a startup company if they feel unchallenged and not fulfilled," said Devine. She quit her job at a Fortune 500 company after she decided to start up a company of her own.

Devine's remarks were echoed by Bayer, who said: "Risk is overrated. We grow up in an environment that failures are celebrated." Endite