Everything I've read and everyone I've talked to about it have told me that there's a perception of startups being perceived as crazy, crazy risky with real life implications (finding housing without a salaried job is supposedly difficult). And the money being available is primarily available to older, less risky-seeming business owners with safe business plans, not younger ones doing interesting things.

YMMV, though, as I've only read and discussed the topic and not experienced it myself.