This week: coronavirus is rewriting the cleantech startup survival guide.
The implosion for early-stage companies has been swift. According to a New York Times analysis, 6,000 people at 50 startups have lost their jobs since the middle of March.
Once fast-growing companies are losing their revenue overnight, laying off or furloughing up to 50 percent of their staff.
Companies in travel, consumer goods, or fintech are the hardest hit by the current economic freeze. The full impact on climatetech and cleantech companies is still unknown. That will depend on the sector they’re targeting, whether they’re generating revenue, and how long this crisis lasts.
Shayle Kann and Stephen Lacey talk with Dr. Emily Reichert, CEO of Greentown Labs, and Emily Kirsch, founder and CEO of Powerhouse about how startups can make it through the current economic calamity.
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