InnovationQuarter and the Coronavirus
Extensive national and international measures have been taken in recent days to limit the further spread of the coronavirus. More and more companies are feeling the consequences of the virus and the measures taken. There is an acute drop in demand, there are supply problems and, above all, a lot of uncertainty. What are the short and long term effects for your company?
We would like to inform you about the measures we have taken at InnovationQuarter.
External and internal communication
Everyone’s health comes first. That is why we have not been working from our office since last Friday, March 12.
However, we try to keep in touch with our relations and stakeholders, and with each other as much as possible. We use digital communication, such as tele or video conferencing. Our organization is well prepared and equipped for this.
Events
All our physical events and meetings for the coming period (at least until the end of April) are cancelled or postponed. Where possible, we reorganize events and appointments to take place virtually.
Investing
The three funds IQCapital, ENERGIIQ and UNIIQ invest in innovative startups and scale-ups. Our portfolio companies are often in a phase where there is insufficient financial resources available to withstand major fluctuations that a Covid-19 outbreak may entail. During this period we are in extra close contact with our portfolio companies to answer questions and think about solutions.
Currently, our teams at all three funds are conducting an assessment on our portfolio companies to:
- Create awareness and dialogue with our portfolio companies about this outbreak,
- Obtain insight into the possible implications for business operations,
- Obtain insight into the possible implications for income, and
- Obtain insight into which mitigating measures have been taken or should be taken.
The results will be incorporated into a risk matrix for our entire portfolio. An action plan will then be drawn up for each company. In addition, we are in contact with the Ministry of Economic Affairs, fellow Regional Economic Development Agencies in the Netherlands, TechLeap and others to see which suitable additional support measures can be taken for startups and scale-ups.
Internationalisation
International business travel has virtually stalled. We also no longer make international trips. As a result, the number of incoming and outgoing international delegations, missions and so-called fact findings from companies is currently zero. We maintain virtual and digital contact with our foreign relations and companies as much as possible. We are able to help you set up a strategy for your exportmarkets and connect you to our network.
A new English website has recently been launched, which contains a lot of relevant information about our region. We refer our international relations to this website (www.investinrotterdamthehaguearea.org). We are also currently organizing digital fact findings for various foreign companies. Furthermore, we focus our activities mainly on Investor Relations (maintaining contacts with foreign companies already established in our region).
Innovation and collaboration
We are working together on a future-proof economy in the Greater Rotterdam The Hague area by building innovative ecosystems, programs, projects and business cases.
In the light of the current situation, our core task of innovation sees reluctance to enter into new partnerships, pilots and projects. Many events and introductions have understandably been postponed, because entrepreneurs currently have different priorities. We will remain in close contact with our relations and in the coming weeks, we will focus in particular on continuing existing projects and supporting entrepreneurs with specific questions.
Questions
The most up-to-date answers to questions from entrepreneurs can be found at business.gov.nl. But we are also happy to help you. Please contact one of our colleagues directly via the details here. Or send an email to info@innovationquarter.nl.
In the coming period, we will be even more driven than ever to work on stronger, smarter and healthier, greater Rotterdam The Hague area.
As Prime Minister Rutte said, “Together we will overcome this difficult period.”
Kind regards,
Rinke Zonneveld
