Startup growth in pandemic: organizational resilience in an extreme crisis situationCrecimiento de las startups en pandemia: resiliencia organizativa en una situación de crisis extremaCrescimento de startups na pandemia: resiliência organizacional em uma situação de crise extrema

Purpose: This study aims to examine the resilience of Peruvian startups during the COVID-19 pandemic using a framework proposed by Lengnick-Hall et al. (2011), in which resilience impacts organizational strengthening. The goal is to identify those characteristics that allowed certain startups to discover growth opportunities amid this crisis. Design/methodology/approach: This study analyzed human, social and entrepreneurial capital variables in Peruvian startups using data from a survey conducted in July 2020. Binary logistic regression was used to determine which organizational resources increased the probability of identifying growth opportunities during the pandemic. Findings: The findings suggest that human capabilities become secondary in extreme crises such as pandemics. Critical factors for startup resilience include commercial partnerships with established firms, founders’ capital investment, business maturity and adoption of advanced digital technologies. Originality/value: This research provides unique insights into startup resilience and growth in Peru during the COVID-19 crisis. The authors observed that business growth during this period was largely unpredictable, with less emphasis on human capabilities. The study highlights the importance of external factors in resilience, the role of collaboration between established firms, the integration of advanced digital technologies and the influence of founders’ investments and business maturity in navigating difficult times.