Apple's former chief executive Steve Jobs unveils the iPhone on January 9, 2007. While Jobs was a great thinker at a young age, some of his greatest innovations such as the iPod and iPhone came later in his career.- TONY AVELAR/AFP/Getty Images
Ray Kroc, the founder of the McDonald's empire, joined the company in his early 50s and pioneered its fast-food franchise model.- via McDonalds.com
Mary Kay Ash, founder of Mary Kay Cosmetics, didn't launch the beauty company until she was 45, after being passed up for a promotion at door-to-door retailer Stanley Home Products.- via Texasswimming.blogspot.com
Barry Diller, chairman and senior executive at IAC, has shaken up several industries throughout his career -- film, television, e-commerce. Now in his 70s, Diller is taking on the publishing world.- KAREN BLEIER/AFP/Getty Images
Saul Perlmutter, an astrophysicist at the University of California Berkeley, won the 2011 Nobel Prize in physics in his early 50s for the discovery of the accelerating expansion of the universe.- Kimberly White/Getty Images
What is the best age for innovation?
What is the best age for innovation? Are you more innovative in your 20s or your 50s?
"The real innovators average about age 40," Agan says, adding that the popularized image of a young college age innovator -- think Mark Zuckerberg -- is a "total fallacy."
Agan cites Steve Jobs, who introduced the iPod and iPhone in just the last decade of his career, after years of personal computing experience.
The upshot? Companies looking to lower costs by hiring a younger workforce may be losing out on innovation.
"The number one factor for innovation is learning from past experiences, learning from past successes and failures" Agan says. "Now that we've moved into a knowlege-base world, experience becomes much more important."
To hear more about the relationship between age and innovation, click on the audio player above.