For better or worse, the relocation requirement is probably a good proxy for "can commit to their startup 24x7 without any other responsibilities standing in the way".
A startup founder who is 40 years old is 2.1x more likely to start a successful venture than a 25-year-old. [1] The kind of people who tend to have kids and families.
And it’s kind of pathetic for an industry that’s supposed to be creating innovations like spatial computing, augmented reality, and fully remote companies to be unable to set up an online school.
If this is your belief, I strongly advise you to reconsider your life choices and priorities