Development path and growth mechanism of Unicorns in Henan Province

Abstract

Based on previous research, this study finds that the development path of Chinese Unicorns is “start-up enterprises-gazelles-unicorns”. And taking 31 provinces (autonomous regions and municipalities) in China as the research samples, this study select 7 influencing factors of market size, human resources, international market, financial support, policy resources, technological capabilities, and emerging industries. Using SPSS 19.0 to perform factor analysis on it, three main factors are derived: resource support, financial support, and emerging industries. Combining with the successful experience in the cultivation of unicorns in Beijing, Shanghai, Guangdong and other regions, this study have constructed a growth mechanism for unicorns in Henan Province, which is supported by resources, financial support and the development of emerging industries, and promote the growth and cultivation of unicorns in Henan Province.