Humans are so obsessed with the concept of Unicorns that they eventually found a way to bring them to life. The term ‘Unicorn Startups’ was coined in 2013 by venture capitalist Aileen Lee.
Rules of the game: To ensure that spotting unicorns remains a rare sight, only Startups valued at more than 1 billion US dollars can use the adorned tag. To put it in perspective, Indian startups having a valuation of more than INR 7,616 crore appx. are called unicorn startups.
How many does the nation boast? India has brought up 34 Unicorn startups till date which is 7% of the world tally (According to cbinsights.com, there are 474 unicorns in total).
Is it a good thing? If it showed in their report-card then yes! Otherwise? It is a milestone, not the end of the tunnel.