The coronavirus outbreak has become a global issue with significant effects on capital markets, and the global economy; its impacts are estimated to be even more than the previous global recessions. In this interim, due to the impacts of this pandemic, startups are more prone to fail or succeed faster than ever before; however, the challenges they face are not yet clearly scrutinized, as the pandemic was faster than scholars. This study therefore investigates the main challenges of Iranian startups by interviewing the co-founders of fifteen well-known startups. The findings are analyzed through two-step coding, and findings were discussed in a focus group session to which startup co-founders, policymakers, and scholars were invited. It was revealed that there are six principal types of challenges to be addressed, including financial, human resources management, support measures and mechanisms, marketing, crisis management, as well as some others.
The coronavirus (COVID-19) pandemic: challenges among Iranian startups