Entrepreneurial Technology and Innovation in the Canton of Alausí

Abstract

Ecuador is considered an entrepreneurial and innovative country. According to the Global Entrepreneurship Monitor (GEM) and the Global Entrepreneurship Development Institute (GEDI), the tendency to start a business and innovate in Ecuador is amongst the highest in the world. Thus, this study investigates the latest technological innovations as well as managerial strategies adopted by start-ups in Alausí during the challenging period of the COVID-19 pandemic. This is a descriptive analysis that uses quantitative data collected through a survey of a representative sample of entrepreneurs in Alausí and its surrounding areas. It is also a nonexperimental, cross-sectional study. Moreover, data were analyzed and the main findings suggested that at least a quarter of start-ups adopted new channels for both promoting and commercializing products and services, making use of social media and online platforms such as WhatsApp, Facebook, Instagram, and Zoom, amongst others. Additionally, it was found that some entrepreneurs went further and took other measures such as reducing working hours and salaries as a way to lower their operating costs and retaining employees, which allowed them to continue operating during the sanitary crisis.

Keywords

• business innovation, entrepreneurship, business technology.