The outbreak of COVID-19 has definitely paralyzed many businesses world over and it will take some time before they are back on their feet. Some may even perish. This period has also been tough for startups, especially the smaller ones, which were operating with thin or no margins. Nevertheless, the situation has also opened up opportunities for many startups and businesses. In an interview with Entrepreneur Asia-Pacific, Rajan Anandan, Managing Director, Sequoia Capital India LLP, said while sectors such as international travel and hospitality will likely take a long time to recover, the pandemic has opened up opportunities for edtech, digital health, health and hygiene products and e-commerce operators, among other. He also talked about Sequoia’s Surge program which aims to help the next generation of companies build truly global businesses.
The COVID-19 pandemic has rattled economies the world over and startups have been hit hard. Which of the startup verticals tend to gain from the situation?
Which would see ‘no growth’ in the near future? Many verticals have the potential for growth if they can be reimagined. The past few months have shown us in an environment like this, consumer behavior that could have taken many years to change can change in two months. Edtech is an example where not only has the number of users of online education in India doubled to 90 million over the past several months, but the number of monetizing users have more than doubled in this period. This kind of growth is truly unprecedented.
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Denne historien er fra July 2020-utgaven av Entrepreneur magazine.
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