While the situation is gradually getting better after the coronavirus, companies, businesses, and institutions are still reeling from the damage it caused. There are 22 tech academies in Amsterdam that have trained over 3188 students till date. A new report by StartupAmsterdam 18 of the 22 academies participated to shine a light on how coronavirus impacted them. As one would expect, the numbers tell a story of how Amsterdam’s tech academies are going through tough times and what they are doing to make things better.
Academies under financial stress due to the coronavirus
With lockdown in effect due to the coronavirus, multiple businesses were severely affected. Similarly, Startup Amsterdam’s report reveals that about 83 percent of academies experienced financial difficulties due to the coronavirus outbreak. One of the main financial stressors for tech academies has to be the reduction in tuition payments, which affected 78 percent of academies. This was caused as fewer applications came in, courses were cancelled, students dropped out, existing students faced difficulties in landing jobs.