UA Research Finds Rise in Entrepreneurship Amid Pandemic

January 30, 2021


UA Research Finds Rise in Entrepreneurship Amid Pandemic

NWA Daily

While small businesses and the service sector took major blows this past year amid the COVID-19 pandemic, new research at the U of A shows that entrepreneurs are energized, and forming new businesses at record pace.

  • In the Endeavor NWA 2021 Ecosystem Predictions Report, author Sarah Goforth predicts that institutional agility during crisis will power certain trends in 2021 and beyond.
  • The first trend that Goforth mentions is the rise of "asynchronous, lifelong learning through one’s home university," meaning the materials of a traditional course will be available for students to use on their own schedule.
  • Secondly, Goforth predicts that the difference between startups and “social ventures” will eventually disappear - newer generations demand new models for their businesses, and aim to grow them sustainably.
  • Thirdly, study abroad programs will take place with or without a passport. During the pandemic, UA students enrolled in a study abroad program created a virtual environment to collaborate with students in India.
  • Lastly, re-investment into basic research will be the catalyst for how we deal with future issues including pandemics, climate change, and natural disasters, Goforth said.

Check out the full 2021 Predictions Report HERE.

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