How digitalization reinvented entrepreneurial resilience during COVID-19

Abstract

The emergence of new digital technologies has transformed entrepreneurship and, very likely, enabled many new and established ventures to avoid bankruptcy throughout the COVID-19 pandemic. Digital technologies are key to identifying, evaluating and exploiting opportunities, scaling a venture's competitiveness, improving efficiency and innovating, especially during uncertain times. We explore how digital technologies reinvented entrepreneurial resilience during the COVID-19 pandemic and distill the digital artifacts, platforms and infrastructures used by entrepreneurs to demonstrate entrepreneurial resilience. We analyzed 42 reflective interviews featuring successful entrepreneurs from How I Built This “Resilience Series” podcast that explore how entrepreneurs responded to the COVID-19 crisis. We adopted a systematic approach to identify and describe the behaviors, actions and strategies related to digitalization to reinvent the business in the uncertain and resource-constrained context of COVID-19. The data analysis yielded thirteen first-order codes categorized into five second-order themes: creative digital pivoting, digital infrastructures, social impact through digital technology, burdens to digital adoption, and growth through digitalization. These second-order themes reveal to function as both enablers and barriers to entrepreneurial resilience in this adverse context. Our exploratory analysis suggests how digitalization influences entrepreneurial resilience.