Standing up against crisis-induced entrepreneurial uncertainty: Fewer teams, more habitual entrepreneurs

Abstract

The global spread of coronavirus disease 2019 (COVID-19) caused by the novel coronavirus SARS-CoV-2 (severe acute respiratory syndrome coronavirus–2) has led to drastic infection control measures that have dramatically affected societies and economies worldwide. Against this background, it is the purpose of this commentary to illustrate how innovative entrepreneurial activity in particular has been affected by the rising uncertainty caused by the first COVID-19 wave. By comparing innovative North American and European startups established pre-crisis and during the first wave of the pandemic, this commentary suggests that startups founded in the crisis are characterised less by entrepreneurial teams and more by habitual entrepreneurs. Interestingly, female entrepreneurial activity seems not to have been affected by the crisis when measured as the proportion of women founders involved in innovative startups pre-crisis and during crisis. The commentary thus, illustrates what particular type of entrepreneur persists during rising uncertainty and allows us to draw conclusions for policy-making and further research on the interface of entrepreneurship, crisis and uncertainty.