Opportunity or Threat: Launching a tech startup during a crisis

The pandemic has sent economic shockwaves around the world and seen businesses facing huge losses. It has brutally exposed and worsened existing vulnerabilities in the Indian economy.  The crisis has compelled many businesses to completely shut down their operations too. But as it’s said by Albert Einstein “In the midst of every crisis, lies great opportunity”, this pandemic might be a perfect time to launch your tech startup.


Although the times seem like an unprecedented crisis, it also means it may present unprecedented opportunities. As we prepare ourselves to go back to a world that will be set back to normal again, the time is ripe to reset everything as we knew it. In this blog, AVCOE lists out three reasons why this crisis can actually be the right time to kickstart your entrepreneurial journey:


  • Access to Funding has never been this easier!

Although investors are being pickier and selective, plenty of money is available and up for grabs for new founders. Also, a new bunch of seed funds is popping up right now, indicating that investors are foreseeing new opportunities and innovations and learning from the outcomes from the previous crisis. Traditional startup accelerators are also seeing new opportunities right now. So, if you have a good idea and a few like-minded aspirers, applying to those can be a great way to increase your chances of getting selected.


  • Building a strong foundation on resiliency

Many great companies were founded and established during crisis times. Both IBM and General Motors were founded during the Great Panic of 1910. Recently, giants like Airbnb too emerged during the Great Recession. Companies that were founded in times of crisis focus more on preserving cash and not piling up too many debts.  Given the volatility of the current economic environment,  achieving resilience will require a new, flexible approach to succeed in operations. 


  • Perfect time to hire talents

As more and more companies are letting go of their employees, the pool of unused talent is growing swiftly. A ton of top talent is floating around in the market like never before and are ready to collaborate with new ventures. The earlier you launch your startup, the higher the chances that you can hire the best talent for your startup.


Necessity drives innovation. Be it a crisis or any situation, the best time to launch any startup is NOW. What’s your excuse?


If you liked the blog, share it with your fellow aspiring entrepreneurs you know. Also, stay tuned with us for more entrepreneurial and tech blogs.

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