The Great Disruptive Transformation: The Impact of COVID-19 crisis on Innovative Startups in India
Sammanfattning: Startups are one of the main agents of creative destruction especially intimes of crisis, because of their favourable characteristics such as size, exibilityand lack of bureaucracy. This study aimed to investigate how hi-techinnovative startups in India are responding to the COVID-19 crisis and howthe crisis stimulates creative destruction. Towards this purpose, Schumpeterianinnovation theory has been combined with dilemma theory andTrompenaars' seven dimensions of national cultural di erences. The designdeployed in this study entailed a qualitative case study approach, involvingin-depth interviews with the leaders from 15 hi-tech startups in India fromvarious industries. The results demonstrate that the investigated startupsare undergoing major transformations. They are successfully pivoting tonew business models and new markets based upon their core capabilities.They are experiencing emerging opportunities, and are innovating in variousways, resembling both Schumpeterian evolutionary economics notions ofcreative destruction and creative accumulation. Seven major dilemmas havebeen identi ed and reconciled. These reconciled dilemmas, coupled withseveral identi ed key learning points, provide further understanding andknowledge on best entrepreneurial practices to support startups throughthe COVID-19 crisis, potentially relevant to a broader context than thecurrent study.
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