Launching a Startup During a Downturn

Launching a Startup During a Pandemic

We’re masked up with hand sanitizer in our pockets prepped and ready for COVID-19. With all of this spare time on our (gloved) hands, turn that startup concept you’ve had into reality.

However, you may be worried if this really is the right time to start a new business (considering it’s not even the right time to go to the grocery store), but recessions have launched many successful companies that are now household names.

Jason Taylor, President of Code Authority, is hopeful for startups during this time, stating, “Downturns can be catalysts for big changes in consumer and business behavior. These behavioral changes create opportunity for innovators. A downturn or systemic shock like the CV19 pandemic can also be a time when displaced people begin to rethink their own trajectories and career paths. The intersection of opportunity and personal need can birth the type of ingenuity and motivation that startups need to get off the ground. If this describes you, it’s time to act!”

Jason Taylor Don’t let the COVID-19 recession be your nemesis—use it to your advantage. Remember the great recession of 2008? Many startups that were formed only 10 years ago are now billion-dollar companies. They took a chance on their ideas just like you can.

They Did it, You Can Too!

These now well-known companies didn’t let the 2008 recession stand in their way. They all started with an idea.

Airbnb

Airbnb is synonymous with a cozier, more unique experience than a hotel, but did you know it all started with an air mattress? Brian Chesky and Joe Gebbia were roommates with a dream… of paying their rent on time. They bought some air mattresses and flipped their loft into a bed and breakfast for a local designer conference. They brought in their old roommate, Nathan Blecharczyk, and founded the company in 2008. Even during a recession, they managed to flip their side hustle into a roughly $38 billion company. Their simple idea in an economic downturn is now a well-known alternative to a hotel stay.

Uber

The idea of Uber began in 2008 in Paris where founders Travis Kalanick and Garrett Camp were attending a conference. Upon leaving, they were unable to find a taxi or any other form of transformation back to their hotel. Frustrated and stranded in Paris, the idea of a transportation service using an app was born. Soon after, they released the Uber application in 2009. This simple startup idea solved a problem with an inventive solution and has spawned other rideshare companies and even food delivery services. Whether heading to the airport or coming home from a night out, people choose Uber for a safer, more convenient option.

WhatsApp

As an emigrant from communist Ukraine, Jan Koum values privacy. He wanted to create an app that was both private and free of advertising. In February of 2009, he and Brian Action, both former Yahoo! employees, founded the WhatsApp messaging service. After Apple introduced push notifications a few months later, the app took off. Connecting people locally and overseas, WhatsApp provides users with private and reliable communication, and with 68.1million users, there is no doubt that WhatsApp was a successful idea that made it big during an economic crisis. Jan’s own personal experiences inspired this app so why not use yours to inspire your next big idea?

How CodeLaunch Can Help

CodeLaunch start up competition CodeLaunch is a seed accelerator and startup competition for tech startups that connects you with investors and invaluable seed services to get your organization off the ground.

CodeLaunch has a track record of helping startups that begin at the event to later go on and raise funding, launch their products, acquire revenue, and have an all-around upward momentum.

Think of CodeLaunch as a launching pad to give your startup a leg up during this economic recession. Winners of CodeLaunch receive a professional hackathon to build out an MVP product of their software solution. There’s no equity surrendered or cost to apply to turn your concept into a product.

As proof of CodeLaunch related startup success since 2014:

  • RentEval - $550K Raised, Launched, Exited 2015
  • ProsRent - $2M Annual Sales, Profitable
  • CountertopSmart – Raised +$500K, Launched
  • KidStrong - $YM Annual Sales, +27 Locations
  • HoneyComb – Raised $250K+, Launched
  • 3GStrong - Launched
  • ParkUpFront – Raised $600K, $300K Revenue, Launched
  • CommonEdits – Raised $750K+
  • StyleRow – Launched

Don’t wait.. apply to CodeLaunch today! Click here to apply.

Startup Downturn MVP Kickstarter Package

Additionally, Code Authority is offering a brand new way to lay the groundwork for your startup during the recession in the form of the Startup Downturn MVP Kickstarter. This offer is the perfect opportunity to follow your passion. It is only available while the demand for our teams is suppressed by the economic downturn.

We are using our top technology consultants while they are “benched” to rapidly engage and elevate startups by bundling together a set of discovery services which will deliver critical assets that all tech startups need.

The Startup Downturn MVP Kickstart includes:

  • Professional NDA
  • Architecture documentation of the product or solution
  • Polished and professionally styled UI/UX mockups
  • A Good Faith Estimate to build the MVP
  • Sprint plan to get to MVP
  • Delivery of all work-product
  • All meetings held virtually by us through Microsoft Teams
  • For only $9,950

This offer is only available until economic conditions flourish once again. Contact us today!