The myth and magic of unicorns

Each day of the past week was seen as a red-letter day for the start-up world as six internet-led firms turned unicorn in quick succession. Celebrations were thick and fast, acknowledging the value of entrepreneurship. The message was that India’s finally arrived on the scene where a $1-billion valuation for a privately-held start-up was not a once in a blue moon phenomenon any longer.

According to US-based analytics platform CB Insights’ database, out of a total of 642 unicorns around the world, India has 29 as of April 2021. Another data set from Venture Intelligence shows the India unicorn club has