The COVID-19 Virtual Idea Blitz: Marshaling social entrepreneurship to rapidly respond to urgent grand challenges

Sophie Bacq, Will Geoghegan, Matthew Josefy, Regan Stevenson and Trenton A. Williams

Business Horizons, 2020, vol. 63, issue 6, 705-723

Abstract: In response to societal grand challenges, professors have unique opportunities to effect change, repurposing their expertise to deploy relevant, timely, practical, and research-backed knowledge for the betterment of communities. Drawing on scholarship on postcrisis organizing, entrepreneurial hustle, and social entrepreneurship, we provide a firsthand, real-time case description of a three-day “virtual idea blitz” organized in response to the COVID-19 crisis. The event was organized and executed in less than a week and ultimately involved 200 individuals, including entrepreneurs, coders, medical doctors, venture capitalists, industry professionals, students, and professors from around the world. By the end of the weekend, 21 ideas with corresponding pitches were developed in five thematic areas: health needs, education, small businesses, community, and purchasing. We describe how the community was rapidly rallied, and we discuss the key learning outcomes of this spontaneous entrepreneurial endeavor. We provide evidence from participants and mentors that showcases the value of the time-compressed virtual idea blitz in accelerating social entrepreneurial action. We offer practical guidance to academic, community, and professional institutions that would like to replicate or build upon our approach to stimulate the formation of community and to coordinate efforts to thwart the ongoing threat of COVID-19, as well as other societal challenges that might emerge in the future.

Keywords: COVID-19; Entrepreneurial hustle; Grand challenges; Social entrepreneurship; Virtual idea blitz (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (27)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:bushor:v:63:y:2020:i:6:p:705-723

DOI: 10.1016/j.bushor.2020.05.002

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