The Role of Cultural and Social Dimensions on New Entrepreneurship Opportunities After the Pandemic: Comparative Analysis Between Deep-Tech Entrepreneurs in Malta and Lithuania

Given the social, cultural, and psychological nature of entrepreneurship (where various initiatives, strategies and policies might help realign entrepreneurs’ perceptions with the global trends during the time of uncertainty), the present research is of significant scientific value for the EU’s economies in the area of deep-tech entrepreneurship. The comparison of two countries representing the Southern and Nordic Europe (Malta and Lithuania, which entered the EU in 2004) helps understand the impacts of cultural and social norms and leads to significant global leadership recommendations for policymakers, governmental program experts, and innovation-driven entrepreneurs. Moreover, reshaping entrepreneurs’ perceptions, attitudes, inspirations, and intentions, along with their interpretation of opportunities or threats in the post-pandemic period, might help improve the entrepreneurship and intrapreneurship dynamics. Although, the literature on the contributions of cultural and social norms to the business environment is well established, the specific effects of cultural and social norms (such as the fear of failure or social trust) should be more investigated via creative leadership, HR strategies, technological innovation (in particular, process and service), along with effective/ efficient risk management and the key strategic partnerships. The aim of this chapter is to identify and measure impacts of cultural norms on the entrepreneurship dynamics considering the Covid-19 pandemic crisis, while comparing two rather different cases (Malta and Lithuania). The research question is how entrepreneurs should unleash the opportunities during the time of change (after COVID) in a particular cultural and social context. The expert interviews with the innovators from Lithuania and Malta will help examine the role of modern technology within the changing business environment, which in parallel affects the role of cultural and social norms.