Innovations during COVID-19 pandemic: Trends, technologies, prospects

Abstract

The paper presents the mechanisms for adapting innovation processes in corporations in the context of COVID-19 and demonstrates technologies and solutions that can be applied to meet current challenges. Innovation can become the link in the company that will help to survive the crisis and open up opportunities for identification, analysis and testing new products and processes. The use of new technologies and openness to innovations can be a decisive factor for staying ahead of the competition in the future. The paper performs examples of successful startups/companies that were able to competently and timely rebuild their business, and provides examples of government initiatives that share their approaches and valuable tips on how to continue innovating even in the current unprecedented times. The research was based on the coronavirus' impact analysis on various industries using leading industry data sources, analytical reports, international indexes and indicators.