Probably every business in the world has in one way or another been affected by the coronavirus pandemic. On the one hand, it has taught companies to develop business models that enable them to adapt quickly to new crises, and on the other hand, it has also changed consumer buying habits to a large extent, enabling new solutions to be brought to market.
These fundamental changes have given an opportunity to fast and agile startups to adapt and thrive in the new world. 2 startups from Budapest have proved it within the EU startup ecosystem. Globally the clear winners in the epidemic are Zoom and Tesla. The pandemic caused everyone to replace offline meetings with video conferencing whenever possible, and the result was a tripling in the company’s share value within months. Long-term winners in this pandemic are not only the software industry, but also smart e-mobility companies:
People’s perception of e-mobility has changed at an incredible pace after Tesla launched it’s affordable Model 3 electric car. As demand for electric cars has risen, people have also started to buy electric bikes, as everyone wants to avoid congested roads and uncomfortable public transit system. As demand for electric cars has risen, people have also started to buy electric bikes, as everyone wants to avoid congested roads and uncomfortable public transit system.
Two start-up companies in Budapest are currently benefiting due to the positive effect of the virus on people’s purchasing behavior. Demand for Yaw’s VR gaming devices was boosted by the coronavirus, as many people were stuck at home bored
Two start-up companies in Budapest are currently benefiting due to the positive effect of the virus on people’s purchasing behavior.fDemand for Yaw’s VR gaming devices was boosted by the coronavirus, as many people were stuck at home bored. Demand for Yaw’s VR gaming devices was boosted by the coronavirus, as many people were stuck at home bored. According to Zsolt Szigetlaki, co-founder of Yaw VR, said that after the hard months of March and April 2020, May and the following period were much more fruitful, and this has been the case ever since. “We hope,to launch a new generation product next year will further accelerate sales,” he says. The company’s customer base is primarily made up of US consumers, but the next step is to target the European market according to Zsolt. ítések növelése a vezetőség elmondása szerint.
The Tesla of e-bikes.
Electric urban bike company Blurby Bike is a startup that experienced the supply chain difficulties caused by the coronavirus, but managed to launch its first product during the first months of the pandemic.
Ivari Kull, the founder of Blurby said: “In addition to keeping prices low, direct customer feedback is the most important thing for us, so there is no middle-man between us and our customers. Our commercial model (selling directly to customers) allows us to receive up-to-date information from our customers, to which we can respond immediately, both in terms of product development and service. Like Tesla, it is important for us to manufacture the jewel of our product, our own battery packs, in-house.”
Looking to the future, online sales and the electrification of transport seem to be only gaining ground, and the dramatic growth will not slow down after the pandemic. If companies want to survive, they must adapt to the new reality. In this volatile/volatile environment, new winners and new losers will emerge in the market, just as they did ten years ago with the iPhone and Nokia respectively.