Pandemic May Create Startup Surge in Tech Industry

published 18.05.2020 10:08

Image of article 'Pandemic May Create Startup Surge in Tech Industry'
Share

Some signs point to new business creation spurred by the coronavirus pandemic as the technology industry seeks to restart the U.S. economy.

Axios reported that programs for innovators with new ideas are cropping up and the startup accelerator program Y Combinator is seeing an uptick in applications from entrepreneurs.

Another program, Cleo Capital's Chrysalis, is connecting tech workers who have been laid off during the pandemic on the workplace communications app Slack.

As Axios noted, there were waves of new startups created in the early 2000s after the dotcom bust and again during the Great Recession in 2008 and 2009.

Along the same lines, many tech industry leaders are realizing that a remote workforce could be possible after offices nationwide have been shuttered for several weeks in an effort to control the coronavirus.