Tags: Coronavirus | startup | tech industry | silicon valley | y combinator

Pandemic May Create Startup Surge in Tech Industry

y combinator partners wearing casual clothes talk with a moderator at a techcrunch conference event
Y Combinator Partners Michael Seibel and Dalton Caldwell, and moderator Josh Constine speak onstage during TechCrunch Disrupt SF 2018 on September 7, 2018 in San Francisco, California. (Kimberly White/Getty Images for TechCrunch)

By    |   Monday, 18 May 2020 08:08 AM

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.

"More than 600 founders have signed up for our course every week since March, and in recent weeks, we've seen that number spike to over 1,000," Y Combinator told Axios in a statement.

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

"For the first time in a decade, product people and engineers are open to looking at new jobs," Cleo Capital's managing partner Sarah Kunst said. "It's more like a writer's retreat … You're there because of the community and accountability."

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. The Wall Street Journal reported that the post-pandemic world could see more companies in the tech industry allowing their employees to work from home.

And Twitter CEO Jack Dorsey said last week that the social media giant's workers will be able to work from home moving forward even after its offices reopen.

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Some signs point to new business creation spurred by the coronavirus pandemic as the tech 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...
startup, tech industry, silicon valley, y combinator
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2020-08-18
Monday, 18 May 2020 08:08 AM
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