Unicorn Start-ups in India: A Brief Study

Abstract

Unprecedented levels of innovation and disruption are taking place today, fuelled by the explosion of start-up businesses that are ready to take on the world with ground-breaking goods, business strategies, and funding. India became the global "software centre" around the turn of the century. It sparked a technological revolution that led to several Indian start-ups developing cutting-edge technology. These start-ups quickly developed into Unicorns in several cases. In terms of the number of unicorns, India is currently third, only after the USA and China. A confluence of factors, such as its enormous market, growing economic position, shifting consumer preferences, and technological capabilities, shapes hyperlocal inventions that are also computationally efficient. We shall briefly explore the "unicorn revolution", the growth of new businesses in India, contribution in employment and GDP of India by Unicorns and the initiatives taken by government for start-ups in this paper.