Innovation of Startups, the Key to Unlocking Post-Crisis Sustainable Growth in Romanian Entrepreneurial Ecosystem

Oana Bărbulescu, Alina Simona Tecău, Daniel Munteanu and Cristinel Constantin
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Oana Bărbulescu: Faculty of Economic Sciences and Business Administration, Transilvania University of Brașov, 500036 Brașov, Romania
Alina Simona Tecău: Faculty of Economic Sciences and Business Administration, Transilvania University of Brașov, 500036 Brașov, Romania
Daniel Munteanu: Faculty of Materials Science and Engineering, Transilvania University of Brașov, 500036 Brașov, Romania

Sustainability, 2021, vol. 13, issue 2, 1-16

Abstract: This paper aims at identifying the entrepreneurial opportunities for establishing innovative startups during and post COVID-19 crisis. To reach this goal, we conducted an exploratory study based on semi-structured interviews with 168 students who intend to involve themselves in entrepreneurship in their future career. The research started from the debates in literature regarding the huge negative impact of the COVID-19 crisis on economic development, which can jeopardize the achievement of United Nations Sustainable Development Goals. The research findings confirm the results of other studies regarding the vulnerability of startups during crises, the reason why they have to refocus on innovative businesses, especially based on information and communication technology (ICT). Such businesses are considered incentives of sustainable development. Other ideas highlighted the importance of social entrepreneurship for the management of startups. It means that startups should develop strong relationships with employees but also with other stakeholders, like companies in the same industry, the public sector, academia, and citizens. In addition, changing the business culture aiming at developing green business could be an inexpensive solution for developing a sustainable entrepreneurial ecosystem. These empirical results have implications for both business and the academic environment, which should cooperate in order to overcome the crisis. Such an approach could be used in the long run in order to manage other crises and to develop sustainable business.

Keywords: sustainable development; entrepreneurship; innovative startups; digitization; qualitative research; COVID-19 crisis; entrepreneurial ecosystem; social entrepreneurship; green business (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (17)

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