01 July 2020 COVID-19 Survey Analysis Tech Tour surveyed its network of entrepreneurs and investors to evaluate the effect of the COVID-19 crisis on the start-up ecosystem. The goal for the report is to deliver strategic insights into the effect of the pandemic and the opportunities that it created, hoping that it will help you understand the situation better and take the appropriate actions to make your start-up or investments thrive. The results of the survey are presented in two different sections – Entrepreneurs and Investors. Entrepreneurs Tech Tour asked the entrepreneurs about the effect of the crisis on their business and their funding efforts, how they had to adapt to the uncertainty, what new opportunities they saw, and how they are seizing them. Respondents The majority of the survey companies are operating in HelthTech/Medtech & Software. Most of them experienced a negative impact from the crisis and reacted by cutting costs and freezing hiring or no action at all. Focus on meeting VCs and CVCs Most of them, concerning their funding, experienced no changes but addressed as a current need of priority to meet with VCs and CVCs & to access public support programs. Developing new side activities Collaboration with other start-ups and bridge financing was considered less useful. The majority spotted new opportunities and focused more on additional side activities and less on core ones. The majority of the start-ups shared that the productivity of their workforce remained unchanged. Investors What is first, the egg or the chicken, the entrepreneur or the investor? Tech Tour believes that an impactful ecosystem suggests world-class entrepreneurs working together with high-end investors and surveyed the investors as well. Tech Tour asked the investors few questions about the main criteria they used for assessing their portfolio, the support they provided for their portfolio companies, and how the crisis impacted the stage of the start-ups they were interested in. Thanks to their responses can present a resume of the main takeaways from the survey: Respondents Most of the surveyed investors were venture capital firms and corporate venture capital departments, investing mainly in HealthTech and Software/SaaS, involved in Pre-Seed and Series A transactions. Cutting costs It served as no surprise that most of them used the level of exposure to the crisis as the main assessing criteria of their portfolio and as a result, advised their portfolio companies to cut costs and search for additional fundraising. Co-investment Consequently, investors consider access to other investors for their portfolio companies as a current need, but also a collaboration with other investors. Download our full survey results for more.