EIT InnoEnergy aims to drag start-ups that it invests in as well as it can through the corona crisis. Read how they go about that in this series.
What is the impact of COVID-19 on the day-to-day running of these start-ups? What is it doing to them?
“More than they had expected. Entrepreneurs are generally tenacious, headstrong, and have a positive attitude by nature. The first reaction was: Ah well, it will all blow over. At the beginning of the lockdown, I asked a start-up entrepreneur how things were going. His worst-case scenario was that they would lose a little bit of money. He was just starting to commercialize. Then we said: “If you take your worst-case scenario and see it as your best-case scenario, what does that impact look like then? And let’s talk again next week.” That’s how almost all conversations went. The corona crisis has had an enormous impact on almost every start-up. For the start-ups that are in the process of commercializing, 85% of the turnover that they thought they already had in their pockets vanished.”
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