Financial crises are a 'filtering mechanism' for startups

In the teeth of recession, a spirit of entrepreneurialism can take hold. Firms explain how they found opportunities in tough times

"The financial crisis was a great time for startups," says Vikas Shah, a professor of entrepreneurship at the Massachusetts Institute of Technology Sloan School of Management, and adviser to the UK government.

The crash of 2007-08 created economic upheaval and political ramifications, but it also necessitated innovation. Shah adds: "Many of our brightest young people, who previously would have defaulted to highly paid corporate and banking careers, were now more open to consider options outside that, simply because of a lack of jobs."

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