Prioritizing Entrepreneurship and Startup Culture Through Policy Intervention as A Strategy for Economy Recovery

Abstract

World today is going through a difficult phase as consequences of COVID-19 pandemic. There is an evidence of the world economy being hit hard and a case of economic recession which created significant threats to the social and economical welfare of the society. Needs are felt to focus on prioritizing entrepreneurship and startup culture as these are the backbones of any economy. But on the other hand, entrepreneurship and the startups growth and sustainability themselves are greater threats ats current times. There is a need for immediate interventions through approaches that are conducive, if erase please the critical role of entrepreneurship and startups are desired to be developed in order to sustain the revival of our economy. This can only be materialized through right understanding of entrepreneurial ecosystems as general and in the scurrent times through researches so that right and meaningful interventions can be made. This study focuses on making policy intervention approaches as a key strategy to provide a favorable platform for startups to grow as well as existing entrepreneurs to sustain. To supplement this study, the data from primary resources are utilized and a methodological approach drawn highlighting the strong nexus between i) Strategies to foster entrepreneurship, ii) Entrepreneurial Ecosystem and iii) SWOT analysis. These three indices can be handy in materializing the meaningful interventions that create conducive platforms for entrepreneurship and startups thereby making a positive impact to the social as well as economical welfare of the society. With unpredictable nature of current pandemic and the series of its associated impacts, there are needs for continuous and innovative engagement in research through global perspectives.