When we voluntarily shut down the economy to contain the spread of a highly contagious virus, our economic gears grind to a halt. And as a result, many structurally-sound, viable startups have suffered.
In fact, a full 20 percent of startups have had term sheets cancelled as a result of COVID-19. And only a quarter of startups that were currently raising funds before the pandemic have either had the fundraising processes continue or actually received funds.