Define the term 'Unicorn Start-ups'.
CS Executive · Setting up of Business Entities and Closure · PYQS · December 2022
Define the term 'Unicorn Start-ups'.
Answer & Explanation:
A unicorn is a term used to indicate a privately held Start Up company with a valuation of over $1 billion. For a unicorn, the journey starts from the growth stage, they are disruptors which start out in an incredibly unique way to solve everybody problem. The reasons these start up become so successful is because all of their solutions fill a specific need in a new and different way. The Indian start up ecosystem has developed dynamically in recent times. Two decades back, there were only few active investors and limited number of support organisations, such as incubators and accelerators. However, in the past decade, there has been a significant increase in both investment activity and infrastructure facilities to provide the much-needed impetus to the expansion of the unicorn tribe.
Topics: Start-ups and MSMEs
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