The COVID-19 Crisis and Entrepreneurship: Perspectives and Experiences of Researchers, Thought Leaders, and Policymakers PDF
Preview The COVID-19 Crisis and Entrepreneurship: Perspectives and Experiences of Researchers, Thought Leaders, and Policymakers
International 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/ SMEs,economicdevelopment,andpolicy.Volumesintheseriesfeatureempirical studies,theoreticalanalyses,practical applications,andpolicyrecommendationsin regional and global contexts, and explore a wide variety of topics with regard to entrepreneurship,includingdemographics,newventurefinancing,research&devel- 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 ©TheEditor(s)(ifapplicable)andTheAuthor(s),underexclusivelicensetoSpringerNatureSwitzerland AG2022 Thisworkissubjecttocopyright.AllrightsaresolelyandexclusivelylicensedbythePublisher,whether thewholeorpartofthematerialisconcerned,specificallytherightsoftranslation,reprinting,reuseof illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similarordissimilarmethodologynowknownorhereafterdeveloped. Theuseofgeneraldescriptivenames,registerednames,trademarks,servicemarks,etc.inthispublication doesnotimply,evenintheabsenceofaspecificstatement,thatsuchnamesareexemptfromtherelevant protectivelawsandregulationsandthereforefreeforgeneraluse. The publisher, the authors and the editors are safe to assume that the advice and information in this bookarebelievedtobetrueandaccurateatthedateofpublication.Neitherthepublishernortheauthorsor theeditorsgiveawarranty,expressedorimplied,withrespecttothematerialcontainedhereinorforany errorsoromissionsthatmayhavebeenmade.Thepublisherremainsneutralwithregardtojurisdictional claimsinpublishedmapsandinstitutionalaffiliations. ThisSpringerimprintispublishedbytheregisteredcompanySpringerNatureSwitzerlandAG Theregisteredcompanyaddressis:Gewerbestrasse11,6330Cham,Switzerland 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.
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