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to innovation. However, if looking back in history, it becomes clear that extraordinary events have always led to radical innova ons and major developments. Today, developments from these periods dominate companies and entire industries. Even in the present situa on, opportunies are opening up - despite all the tragedy. Clearly, digi za on is drawing further development dimensions. Small steps are evident in many sectors. Perhaps there are already great innova ons in the making, which are not yet obvious. Right now, there are many unconventional ways to promote innova on, from design sprint to coopera on with innova ve ecosystems or the crea on of new innovation cultures. It takes courage, commitment, persistence and a good por on of op mism!

SOURCES Archibugi, Daniele & Filippe , Andrea & Frenz, Marion, 2013. "The impact of the economic crisis on innova on: Evidence from Europe," Technological Forecas ng and Social Change, Elsevier, vol. 80(7), pages 1247-1260. Chakravor , Bhaskar (2010). Finding Compe ve Advantage in Adversity, Harvard Business Review, 10/2010. ht t p s : // h b r. o rg / 2 0 1 0 / 1 1 /f i n d ing-competitive-advantage-in-adversity. Czakon, Wojciech, Niemand T., Gast J., Kraus S, Frühstück L. (2020). Designing coope on for radical innova on: An experimental study of managers'

AUTHOR Dr. Lothar Stadler, 44, is an entrepreneur from Austria, a former sales executive in the machinery and railway industry, and lecturer at Vienna University of Economics and Business. He provides services in global sales for technology-driven customers and adds value in innova on programs. Lothar.stadler@explorvent.com www.explorvent.com

preferences for developing self-driving electric cars, Technological Forecas ng and Social Change, Volume 155, June 2020, 119992. https:// www.sciencedirect.com/science/ar cle/pii/S0040162520301761 Da c h s Be r n h a rd , Pet e r s Bet tina (2020). Covid-19 und F&E in Unternehmen: Erfahrungen aus früheren Krisen, Die Presse, 202006-08. https://www.diepresse. com/5821789/covid-19-und-fe-inunternehmen-erfahrungen-aus-fruheren-krisen Daimler (2020): 15.000 Stellen reichen nicht: Daimler will wegen Corona-Krise noch mehr Jobs streichen, RND-Redaktionsnetz Deutschland, 11.07.2020. https:// www.rnd.de/wirtscha /15000-stellen-reichen-nicht-daimler-will-wegen-corona-krise-noch-mehr-jobsstreichen-CBATTHWMNKZYHMGT6RHXGY5RKQ.html Dona ello Davide & Ramella Francesco (2017). The Innovation Paradox in Southern Europe. Unexpected Performance During the Economic Crisis, South European Society and Politics, 22:2, 157-177, DOI: 10.1080/13608746.2017.1327339. E&I Survey Report (2020). How to overcome the crisis with innova ons. Institute of Entrepreneurship and Innova on, WU Vienna, June 2020.

GoStudents (2020). 8,3 Milionen Euro Investment für E-Lerning-Startup GoStudent, der brutkasten, 2020-0623. h ps://www.derbrutkasten.com/ gostudent-investment/?ref=scrolled1 Hopp Chris an, Antons David, Kaminski Jermain, Salge Torsten Oliver (2018). What 40 Years of Research Reveals About the Difference Between Disrup ve and Radical Innova on, HBR, April 2018. h ps://hbr. org/2018/04/what-40-years-of-research-reveals-about-the-difference-between-disruptive-and-radical-innova on?registra on=success Jordan Bar Am, Laura Furstenthal, Felicitas Jorge, and Erik Roth (2020): Innova on in a crisis: Why it is more critical than ever. McKinsey&Company. 2020-06-17. https://www. mckinsey.com/business-functions/ strategy-and-corporate-finance/ our-insights/innovation-in-a-crisiswhy-it-is-more-cri cal-than-ever Kauffman Indicators of Entrepreneurship, Kauffman.org; h ps://indicators. kauffman.org/ Marhold, Klaus and Fell, Jan, (2020). Format Wars Hampering Crisis Response – The Case of Contact Tracing Apps During COVID-19 (May 16, 2020). OECD (2012) : Innova on in the crisis and beyond, OECD Science, Technology and Industry Outlook 2012; https://www.oecd.org/sti/sti-outlook-2012-chapter-1-innova on-inthe-crisis-and-beyond.pdf Schumpeter J.A. (1939). Business Cycles. A Theore cal, Historical and Sta s cal Analysis of the Capitalist Process, Vol. 1, McGraw-Hill Book Company Inc, New York (1939) Sco , D. Anthony (2009). A er Lehman: How Innovation Thrives in a Crisis, Harvard Business Review, 09/2009. h ps://hbr.org/2009/09/ how-innova on-thrives-in-a-cr?referral=03759&cm_vc=rr_item_page.bottom#comment-sec on. Sutter John D. (2009), The Top 10 tech trends of 2009, CNN, 200912-23, h p://edi on.cnn.com/2009/ TECH/12/22/top.tech.trends.2009/ index.html Taalbi, Josef (2017). What drives innova on? Evidence from economic history, Research Policy, Volume 46, Issue 8, October 2017, Pages 1437-1453. europeanbusinessmagazine.com 73


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Do Black Lives Matter in Business?

6min
pages 112-116

Almost one fifth of SMEs don’t think they’d survive another lockdown

3min
page 111

Businesses are paying the price of stressed staff as pandemic

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pages 94-95

HOW SEARCH ENGINES REALLY WORK

25min
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Can Europe Overcome The Next Wave Of The Pandemic

5min
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money pressure takes its toll How to conduct risk assessment of your receivables

6min
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Reframing ‘Work / Life Balance

6min
pages 92-93

Ten years in compliance: Reflecting on the UK Bribery Act

4min
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US vs Europe: Tensions Rise

5min
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Refinitiv battle reveals unease over power of modern stock markets

5min
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Why You Should Consider Starting a Business in Bermuda, Too

6min
pages 82-83

SMEs Post Lockdown 5 European Google competitors to watch

5min
pages 80-81

European App Developers Create New Service to Help Struggling

1min
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What happens to innovations in a crisis?

28min
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Why Dating Apps are Old News and Matchmaking Services are Booming

6min
pages 74-75

Irene Valenti, founder of Valenti International

8min
pages 76-78

Romain Gerardin-Fresse, Ceo and Founder of GFK Conseils-Juridis

26min
pages 56-64

Odd Sverre Østlie, CEO of Pexip

11min
pages 50-53

Building a finance function from the ground up

4min
pages 54-55

Max Studennikoff, Ceo and Founder of CC Forum

7min
pages 46-47

Work from Home Revolution: Video-conferencing is About

6min
pages 48-49

Tens Of Thousands Protest Pandemic Restrictions In Berlin

3min
pages 44-45

Post-Pandemic Economic Recovery and New Market Space in China

6min
pages 40-43

Why Iceland is the Perfect Spot to Do Business

4min
pages 38-39

Can Industries Bounce Back after the Coronavirus Outbreak?

9min
pages 30-33

Cloud, cyber security & leading in a threat environment without decelerating innovation

5min
pages 36-37

Safe-Haven Assets: Coronavirus Market Crash Make Investors

6min
pages 28-29

What is the Future of Money and Are We Ready For It?

6min
pages 26-27

Iowa: A Smart Investment in America’s Midwest

6min
pages 34-35

Latest News

13min
pages 8-11

Mass exodus from the UK

4min
pages 22-23

Bumper year of sport to boost air charter industry in 2021

4min
pages 12-13

Digital Confidence Will Play A Critical Role In Allowing

5min
pages 18-19

Why The Moroccan Pharma Industry Matters To Europe

3min
pages 24-25

The World Economic Forum Suggests a Different Post-Covid

5min
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Social media: Are we in control?

6min
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James Storie-Pugh, Founder of Mellow

3min
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