Page 37 - Book of Abstracts 2021

Anti COVID-19 #19 Startups during the Covid-19 pandemic: experience for Czechia from the USA May 2020 IDEA anti COVID-19 # 19 IDEA anti COVID-19 # 19 Startups during the Covid-19 pandemic: Startups during the Covid-19 pandemic: experience for Czechia from the USA1 experience for Czechia from the USA1 MAY 20202 MAY 20202 Petr Sedláček Summary Summary  The current Covid-19 crisis will affect newly established firms considerably, including  sTthaertucuprsr,ein.et. Ccomvidp-a1n9iecsrisnisthweililnaitfifaelc,tfrnaegwilleysetastgaebsliosfhecdofniromsiccdoenvseidloeprambelyn,t.inSctlaurdtuinpgs satnadrtnupews,lyi.e.sctaobmlipsahnediescoinmtphaeninesitiarle,,frhaogwilevsetra,giemspoofretcaonntofmroimc dtehveelpoeprmspenct.ivSetaorftujopbs carnedatnioenwlaynedstianbltihsheedUScAomapreanriespaornes,ibhloewfeovrert,hirmeepoqrutarntterfsroomf ntheet pgerorswptehctinveoovferjoalbl ecrmeaptlioynmaendt. in the USA are responsible for three quarters of net growth in overall employment.  My colleague Vincent Sterk of University College London and I have created a “startup  cMaylcucolallteoarg”,uwehViicnhceqnutaSnteifrikesotfhUenimiveprascityoCfovallreigoeusLoscnednoanriaonsdfoIrhtahveeccoruerastedofath“setacrtisuips ocanlcouvleartaolrl”e, mwhpilcohymquenant tiinfiethsetheecoinmopmacyt. oOfuvracraiolcuuslastcieonasr,ibosasfeodr othnedcaotuarfsreoomf the cUrSisAis, iondoicvaetreatllheamt epvleonyma eontei-nyetahrefaeclloinotmhey.nOuumrbcearlcouflanteiwonfsi,rmbasswedouolnd dreastaulftroinmththeeloUssSAof, minidlliicoantes tohfajot besveanda tohnaet-iytecaorufladlltainkethuepntuomtebneyreoafrns etowrfeicrmovserwforuolmd rthesisuletciontohmeicloasllsyo. f millions of jobs and that it could take up to ten years to recover from this economically.  Data from Eurostat show that startups are similarly significant for employment in the  DCzaetcahfrRoempuEbulircosatsaitnshthoewUtShAat.Tsthaertfuapctstahraetsaicmadileamrlyicsiagndifigcoavnetrfnomrenmtaplopyomliceyntmianktehres Cdozencoht RpaeypunbelairclyasasinmtuhcehUaSttAe.nTtihoen ftaocthtehpatheancaodmeemniocns aonf sdtagrotvueprsnamnednntaelwplyoleisctyamblaiskheerds cdomnpotanpaieysnhearrelyasasinmtuhcehUaStAtendtoieosnntottchheapnhgentohmate.nIonndoefsisgtnarintugpistsamndeanseuwrleysetsotambiltiisghaetde cthoemipmapnaiecst hoef rtehaescirnistihs ecaUuSsAedobeystnhoetCcohvaindg-e19theapti.dIenmdiecs,itghneinCgzietcshmgeoavseurrnems teonmt sihtioguatlde theriemfopraeckt eoefpthine cmrisnids cnaoutseodnlbyywtehlel-Cesotvaibdl-i1s9heedpisdmemalli-c,atnhde mCzeedcihumgo-vsiezrendmeenttersphroiuselds bthuetreaflsoorerekceenptliyn emstianbdlinshoet donfilrymwsealln-edstnaebwlisbhuesdinsemssaells- tahnadt amredoiunmly -jsuizset dpreenptaeripnrgisetos ebnutearltshoermecaernktelyt. established firms and new businesses that are only just preparing to enter the market. Petr Sedláček 1This text provides a summary of research published in COVID Economics 1https://cepr.org/sites/default/files/news/CovidEconomics13.pdf. This text provides a summary of research published in COVID Economics 2 This study represents the authors’ own views and not the official position of the Czech Academy of Sciences’ Economics https://cepr.org/sites/default/files/news/CovidEconomics13.pdf. Institute nor of the Charles University Centre for Economic Research and Graduate Education (CERGE). The author is 2 This study represents the authors’ own views and not the official position of the Czech Academy of Sciences’ Economics grateful to Daniel Münich and Martin Srholec for their valuable comments and advice. The study was produced with Institute nor of the Charles University Centre for Economic Research and Graduate Education (CERGE). The author is support from the Czech Academy of Sciences as part of its AV21 Strategy programme and from the Experientia grateful to Daniel Münich and Martin Srholec for their valuable comments and advice. The study was produced with Foundation. support from the Czech Academy of Sciences as part of its AV21 Strategy programme and from the Experientia Foundation. 1 BACK TO CONTENTS 35 1