Centre for Entrepreneurship and Innovation Maastricht University

Life in Times of Corona

The Corona virus and its effect on the economy forces us to take a hard look at the vulnerability of our current economic model. Most entrepreneurs find it hard to cope with this external shock. Having to halt their operation for many weeks, maybe months, brings them at the brink of financial ruin. The current crisis, if anything, teaches us a lesson in humility and foreshadows things to come. One will have to say goodbye to the age of the short term and welcome a new age in which long term sustainability and economic durability will prevail. This however requires a lasting change in mindset, no more “quick bucks” nor “consequences be damned”.

For many years now, one has lost sight of the long term in favor of the short term and we built an economic system around this. We should not be concerned anymore about tomorrow nor next week, but we need to focus on the next months or even better next years. Such durable outlook creates responsibility and accountability to be prepared to face the consequences. Changing that mindset may start with education. We are privileged to help shape the minds of tomorrow.

The question how does the corona crisis impact CEI has to be addressed. Looking at the operational consequences. The foreseen programs need to be postponed until Fall. CEI has to develop and invest in online programs ahead of schedule. The MKB Deal is postponed until September and our momentum especially amongst students has tapered off.

CEI will look into the opportunities it gives us and the lessons we are taught. We will support students and owner/managers to start up and/or innovate in a durable way. We will help entrepreneurs to find business models, which facilitate growth in a sustainable manner. We will focus on owner/managers to help optimize their business for the coming decade. CEI is convinced it can play a lasting role in helping budding entrepreneurs as well as seasoned owner-managers in creating a difference today to benefit tomorrow.

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