This Month in German Startups – Corona Flash – March 19th, 2020

This is a special format for our startup news. We will keep you updated on the developing Covid19 story and its impact on the German startup scene.

If you are new to our podcast(s), we are wrapping up the startup news of the German-speaking area in a monthly recording from Frankfurt and New York. Have a look at our website www.startuprad.io or www.startup.radio and you will find all the links to our recording and the articles we are quoting from there. Some of the source articles are in English, some are in German.

 

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Intro

Hi there,

This is Joe from Startuprad.io. Since the Corona outbreak in Europe, we surpassed 150.000 subscribers. I would like to thank you all and keep you up to date with the current development. 

Public life in Germany is now  greatly reduced. In most of Germany’s sixteen states the opening hours of bars and restaurants are severely limited and only selected stores (think groceries, pharmacies, …) remain open during normal hours.

This has a great impact on startups in Germany, from changing to remote-only work, to a heavy drag on revenues, to finding emergency funding. We thought we would give you an overview, as a short flash update.

We want to provide you with collections of links and reports, that point you where to find information, help and can read more. 

 

German Startup Association’s Link Collection

“This is a list of *public* coronavirus // Covid-19 communications/measures and resources.

Disclaimer: The content below is crowdsourcing content, so it is not independently verified. It is intended as a resource for founders and management teams who are currently discussing their own actions on SARS-CoV-2/COVID-19 and want to learn from the ecosystem. “

SARS-CoV-2/COVID-19: Collected Best Practices of the German Startup Scene – German Startups Association

https://docs.google.com/document/d/1UKRxxg3SiOH7hBUnS8Tn81zAqoG4KcWBpSPBTpfidzk/preview

Some highlights from the document:

 

Other Link Collections

What to consider?

Time to plan now. Consider this situation going on for weeks, even months and make plans accordingly. For all startups cash is king!

Here are examples of measures put together by the German government.

 

Related News

Startups developing tech to combat COVID-19 urged to apply for fast-track EU funding – TechCrunch https://buff.ly/2WtqyyL 

 

Good news from the German federal government, they promise up to 40 bn Euros in aid and loans to freelancers and SMEs – DER SPIEGEL – Wirtschaft https://buff.ly/2U5wlc9?utm_source=-custom-by-source-0- Keep in mind, this will not all go to startups, but we will keep you updated on the measures, as well as when and where to apply.  

 

Potential Time Frame

A snapshot of China, the epicenter of Corona right now from the NY Times: China Hits a Coronavirus Milestone: No New Local Infections https://buff.ly/2Ux9S6T Drastic measures have been taken there, since January 22nd. This gives us a potential time frame of almost 60 days. Keep in mind without proper vaccination the virus could re-emerge after restrictions are lifted.

 

There is a paper by the Imperial College UK, which focuses on the UK and US, but is a guide for the duration of potential measures. This paper forecasts the height of deaths in the UK mid/end of May and in the US at the beginning/mid of June. Keep in mind, even though we will be through the Corona crisis, we may face another outbreak in the coming winter, without vaccination. This does not mean, there will be one. None the less you should factor this in as one potential scenario in your plans https://www.imperial.ac.uk/media/imperial-college/medicine/sph/ide/gida-fellowships/Imperial-College-COVID19-NPI-modelling-16-03-2020.pdf

 

Further readings

EU-Startups has 10 tips for productive homeworking https://buff.ly/2U9YyNN 

Publications by Deloitte on the impact of COVID19 on financial services (US focus):

Video News

 

Top Book Picks by 28 year old serial entrepreneur Peter (AL)

Principles by Ray Dalio https://amzn.to/38ZgmB7

The man who solved the market https://amzn.to/2SZ6Jgw

What You Do Is Who You Are: How to Create Your Business Culture https://amzn.to/2SYi00x

The little prince https://amzn.to/3c6hWDm

Friedrich Nietzsche’s Books:

Herman Hesse’s Books