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Did you know that India, the third largest startup ecosystem in the world is home to 108 unicorn startups?
Probably you have seen the term ‘unicorn startup’ many times and wondered what it is. A unicorn startup is a start-up company valued at $1 billion. The term is usually used by the investment firm. The term ‘unicorn’ was coined in 2013 by Eileen Lee, founder of Cowboy Ventures and venture capitalist. Lee first used the term ‘unicorn’ in a blog post in which he said 39 US-based software companies. worth a billion dollars. This term became popular and has been fashionable ever since in the world of business and finance.
Today, India is emerging as a fertile ground for unicorns. As reports has been surrounded, there could be more than 150 high-value startups in the country till 2025. It is certainly not easy for a startup to become a unicorn overnight. It takes more than hard work and dedication to earn a company’s top grades.
Multiple global unicorns have disrupted the market with innovation. For example, Canva is a must have app for designers, Airbnb changed the way we use vacation rentals and now WhatsApp is a globally recognized messaging application, so business can be consumed well by introducing a unique product or service to disrupt the market it can and ultimately dominates.
Most pioneering Unicorn businesses are the first to introduce a product or service to the industry. This creates the advantage of creating consumer demand and changing the way goods & services are consumed.
India is also following the path of advancement through innovative approach towards emerging technologies or products because of research works that would be fruitful as the foundation of upcoming economic development and progression.