We use status characteristics theory to examine the ways in which members of startup teams work together toward establishing new businesses. We hypothesize that team members were most likely to contribute high levels of assistance when their own status and the status of their teammates are high. We also hypothesize that respondents whose status exceeds the status of their teammates will under-report the contributions of teammates. Using data from the Panel Study of Entrepreneurial Dynamics I (PSED-I), we found empirical support for our hypotheses for the achieved status characteristics of industry experience and prior entrepreneurial experience.