Table Of ContentInternational Studies in Entrepreneurship
David B. Audretsch
Iris A. M. Kunadt Editors
The COVID-19
Crisis and
Entrepreneurship
Perspectives and Experiences
of Researchers, Thought Leaders, and
Policymakers
International Studies in Entrepreneurship
Volume 54
SeriesEditors
ZoltanJ.Acs,GeorgeMasonUniversity,Fairfax,VA,USA
DavidB.Audretsch,IndianaUniversity,Bloomington,IN,USA
This series highlights cutting-edge research in entrepreneurship, small business/
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opment,businesscreation,labordynamics,technologymanagement,andeducation.
Springer and Series Editors welcome proposals for research monographs, edited
volumesandreferenceworksinallareasofentrepreneurshipresearch.
(cid:129)
David B. Audretsch Iris A. M. Kunadt
Editors
The COVID-19 Crisis
and Entrepreneurship
Perspectives and Experiences of Researchers,
Thought Leaders, and Policymakers
Editors
DavidB.Audretsch IrisA.M.Kunadt
InstituteforDevelopmentStrategies InstituteforDevelopmentStrategies
IndianaUniversity IndianaUniversity
Bloomington,IN,USA Bloomington,IN,USA
ISSN1572-1922 ISSN2197-5884 (electronic)
InternationalStudiesinEntrepreneurship
ISBN978-3-031-04654-4 ISBN978-3-031-04655-1 (eBook)
https://doi.org/10.1007/978-3-031-04655-1
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Contents
TheJourney:NavigatingtheCOVID-19Crisis. . . . . . . . . . . . . . . . . . . 1
IrisA.M.KunadtandDavidB.Audretsch
PartI TheFutureisRiskyandEntrepreneurial
ResilienceIstheNewCompetitive. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
MarkSanders
DepthsofChange:RangingfromClubhousetoGameChanger. . . . . . . 25
AndreasPinkwartandAnna-TinaPannes
OxygenatingInnovation?TheNot-So-BraveNewWorld
ofCOVID-19?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43
NorrisKrueger
PartII EconomiesUnderPressure:ChallengesfortheFuture
AftertheCOVID-19Crisis
COVID-19,Schumpeter,andtheSizeoftheMarket. . . . . . . . . . . . . . . 61
PontusBraunerhjelmandEmmaLappi
COVID-19Crisis:ModernizationPushattheMacroeconomic
andFirmLevel,ProvidingforNotSoDisparateOpportunities
andChallengesforMajorsandStart-Ups.. . . .. . . . .. . . .. . . . .. . . .. 87
GunterDeuber
EntrepreneurshipandEconomicResilienceinTimesofCrisis:
InsightsfromtheCOVID-19Pandemic. . . . . . . . . . . . . . . . . . . . . . . . . 97
MatthiasMenter
BusinessAngelInvestingDuringtheCOVID-19Pandemic. . . . . . . . . . 105
ColinMason
v
vi Contents
PartIII ReflectingontheFutureofEntrepreneurshipResearch:
DiversityandImpactAftertheCOVID-19Crisis
DreamingofaDifferentFuture. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123
FriederikeWelter
EditorialQuandariesDuringtheCOVID-19Pandemic:APersonal
Exposé. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137
AlbertN.Link
PartIV ActingUnderUncertainty:PersonalPerspectives
fromSweden,EgyptandGermany
MyExperiencesoftheCOVID-19PandemicSoFar. . . . . . . . . . . . . . . . 147
CharlieKarlsson
“Hibernating”inCairo:COVID-19,asseenfromEgypt. . . . . . . . . . . . 171
ChristianSchubert
COVID-19PandemicLockdown:TheEraofConnection
andCreation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 177
MahaAly
PartV TheEducationalEcosystemforEntrepreneurship:Moving
theDigitalWayForwardAftertheCOVID-19Crisis
EntrepreneurialIntentionofDutchStudentsDuringtheCOVID-19
Pandemic:AreToday’sStudentsStillTomorrow’sEntrepreneurs?. . . . 187
AnnelotWismans,MilcoLodder,andRoyThurik
COVID-19:EntrepreneurialUniversitiesandAcademic
Entrepreneurship. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 209
JamesA.Cunningham
InternationalizationMeetsDigitalization:EntrepreneurialResponses
inHigherEducationtotheCOVID-19Pandemic. . . . . . . . . . . . . . . . . . 229
ErikE.Lehmann,JonahM.Otto,LaurenzWeiße,andKatharineWirsching
TheSilverLiningforPandemic-EraInternationalEducation. . . . . . . . 241
AndreaAdamMoore
TheCOVID-19PandemicasaCatalystforDigitalEntrepreneurship
Education:ReflectionsonaRapidTransformationofanEducational
Ecosystem. . . . . . . .. . . . . . . . . . . . .. . . . . . . . . . . .. . . . . . . . . . . . .. . 253
ChristineK.VolkmannandMarcGrünhagen
Index. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 275
About the Editors
David B. Audretsch is a Distinguished Professor and the Ameritech Chair of
Economic Development at Indiana University, where he also serves as Director of
theInstitute for DevelopmentStrategies.He isan Honorary ProfessorofIndustrial
Economics and Entrepreneurship at the WHU-Otto Beisheim School of Manage-
mentinGermanyandapart-timeprofessorofentrepreneurshipattheUniversityof
Klagenfurt in Austria. Audretsch’s research has focused on the links between
entrepreneurship, government policy, innovation, economic development, and
globalcompetitiveness.
IrisA.M.Kunadt holdsaPh.D.fromMaxPlanckInstituteofEconomics/Univer-
sity of Hamburg. Her research focuses on entrepreneurship, public policy, and
strategic management of places. Before starting social and civic entrepreneurship
initiatives she worked at Fraunhofer IMW and as a consultant on applied research
projects.
vii
The Journey: Navigating the COVID-19
Crisis
IrisA.M.KunadtandDavidB.Audretsch
Abstract WhentheCOVID-19diseasebecameapandemicinWinter/Spring2020
and one country after the other installed far-reaching lockdowns, it soon became
clearthatthiswasacrisisneverexperiencedsofarforallpartsofourlife.Thiswas
the starting point of this book. The authors of this chapter and editors of the book
pointtotheunprecedentedchallengesregardingtheeconomy,democracy,(mental)
health, and social life and outline what happened in the years 2020–2022 till the
publicationofthebook.Themostfundamentalperception thatemergedduringthe
COVID-19pandemicandthatisreflectedinotherchaptersisthatweliveinaneraof
predictable unpredictability. The most important challenge for the future is how to
makesocietiesandtheeconomiesresilienttocrisisyettocome.Thischapterpoints
toentrepreneursassolutionleaders.Inatimeofgreatuncertaintyentrepreneursare
theoneswhoareusedtolivewithgreatuncertaintyandtakethechallengetolookfor
solutions.
Keywords COVID-19·Entrepreneurs·Uncertainty·Economicshock·Historical
event·Democracy·Crisismanagement
At first reflection, it surely seems like it was, to paraphrase Charles Dickens, “the
worstoftimes.”However,uponcloserinspection,thegreatauthorfoundinhisTale
of Two Cities (Dickens, 1859) glimmers of hope and optimism, even where others
succumbedtodespairandgloom,“Itwasthebestoftimes,itwastheworstoftimes,
itwastheageofwisdom,itwastheageoffoolishness,itwastheepochofbelief,it
I.A.M.Kunadt(*)
InstituteforDevelopmentStrategies,IndianaUniversity,Bloomington,IN,USA
e-mail:[email protected]
D.B.Audretsch
AmeritechChairofEconomicDevelopment,InstituteforDevelopmentStrategies,Indiana
University,Bloomington,IN,USA
e-mail:[email protected]
©TheAuthor(s),underexclusivelicensetoSpringerNatureSwitzerlandAG2022 1
D.B.Audretsch,I.A.M.Kunadt(eds.),TheCOVID-19Crisis
andEntrepreneurship,InternationalStudiesinEntrepreneurship54,
https://doi.org/10.1007/978-3-031-04655-1_1
2 I.A.M.KunadtandD.B.Audretsch
wastheepochofincredulity,itwastheseasonoflight,itwastheseasonofdarkness,
itwasthespringofhope,itwasthewinterofdespair.”
And so it was during the Great Pandemic starting in 2020. There was much to
morn.AsofMay2021,170millioncasesresultingin3.54milliondeathshadbeen
registered globally. And there was more to come. In an extraordinary gesture of
unification, the International Labor Organization (ILO), Food and Agricultural
Organization (FAO) of the United Nations, International Fund for Agricultural
Development (IFAD), and the World Health Organization (WHO) warned. The
COVID-19 pandemic has led to a dramatic loss of human life worldwide and
presents an unprecedented challenge to public health, food systems, and the world
ofwork.Theeconomicandsocialdisruptioncausedbythepandemicisdevastating:
tens of millions of people are at risk of falling into extreme poverty, while the
numberofundernourishedpeople,currentlyestimatedatnearly690million,could
increasebyupto132millionbytheendoftheyear”.1
Therewasalsoaplethoraofsubtleandnotsosubtlechangesthatleftvirtuallyno
oneontheplanetuntouched,rangingfromsocialdistancingtomentalhealth,remote
work and job insecurity, and at-home schooling. On March 11, 2020, the director
general of the World Health Organization (WHO), Dr. Tedros Adhanom
Ghebreyesus declared that the spread of the global COVID-19 epidemics had
becomesoprevalentthatitconstitutedapandemic:“TheWHOhasbeenassessing
thisoutbreakaroundtheclock,andwearedeeplyconcerned,bothbythealarming
levels of spread and severity and by the alarming levels of inaction. We have
thereforemadetheassessmentthatCOVID-19canbecharacterizedasapandemic.”2
As Medical News Today reflected, “With these few words, Dr. Tedros made clear
thatthewayinwhichwelivedwasgoingtochangeimminently—anditdid.”3
Infact,theimpactonworldGDPgrowthratesismassiveandmostlikelylong-
lastingandittriggeredahealthandfiscalresponseunprecedentedintermsofspeed
andmagnitude(Yeyati,2021).TheWorldEconomicOutlookOctober2021states,
“Theglobaleconomyisprojectedtogrow5.9%in2021and4.9percentin2022,0.1
percentagepointlowerfor2021thanintheJulyforecast.Thedownwardrevisionfor
2021 reflects a downgrade for advanced economies—in part due to supply disrup-
tions—and for low-income developing countries, largely due to worsening
1“ Impact of COVID-19 on people’s livelihoods, their health, and our food systems,” joint
statement by the International Labor Organization (ILO), Food and Agricultural Organization
(FAO)oftheUnitedNations, International FundforAgricultural Development (IFAD),andthe
WorldHealthOrganization(WHO),October13,2020,accessedonMay31,2021athttps://www.
who.int/news/item/13-10-2020-impact-of-covid-19-on-people's-livelihoods-their-health-and-our-
food-systems.
2Maria Cohut, “Global impact of the COVID-19 pandemic: 1 year on,” Medical News Today,
March12,2021,accessedonMay31,2021athttps://www.medicalnewstoday.com/articles/global-
impact-of-the-covid-19-pandemic-1-year-on.
3Maria Cohut, “Global impact of the COVID-19 pandemic: 1 year on,” Medical News Today,
March12,2021,accessedonMay31,2021athttps://www.medicalnewstoday.com/articles/global-
impact-of-the-covid-19-pandemic-1-year-on.
