The Unicorn: What is it, and how does one Become a Unicorn?
Prime Minister Narendra Modi lauded the Indian startup ecosystem on 29th May and noted that the nation had produced 100 unicorns worth more than $300 billion each. What qualifies someone as a unicorn, and what does that entail?
An Explanation of a Unicorn Startup
Startups with a value of $1 billion privately held and supported by venture capital are known as unicorns. The value of unicorns is determined by their growth potential, as seen by investors and venture capitalists who have participated in various investment rounds rather than directly by their financial performance. As of now, unicorn startups are still described in the same way. The number of unicorns has increased.
What is the Unicorn Record for India?
In a recent “Mann Ki Baat” radio broadcast, Prime Minister Modi said that a record 44 unicorns were established in India during the pandemic last year. In addition, 14 other unicorns were created in the first three to four months of this year. He said that our startups have been generating income and value even at this stage of the global pandemic. According to the report, there has been a nine-fold growth in investors and a seven-fold increase in startup funding in the country between 2015 and 2021.
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