The number of rhinos in India reached 100 on May 5, Prime Minister Narendra Modi on Sunday expressed his ‘mind matter‘ Radio broadcast. “You know for sure that a unicorn is a startup that costs less than 7,500 crore,” he said, “the total valuation of these unicorns is over $330 billion; ie more than 25 trillion. Certainly, it is a matter of pride for every Indian.” He added, entrepreneurs were also emerging from small towns and towns. “This shows that in India, one who has an innovative idea can create wealth. Is.”
In fact, our unicorn boom makes the country proud and speaks volumes of opportunity. However, a global rush of funds due to ultra-lax monetary policies undertaken by central banks in response to the COVID pandemic has also resulted in very high pricing. The real test will now come, as monetary conditions tighten and performance pressure on venture capital selection mounts. The business revenue, job creation and tax yield of prized startups must grow exponentially from here to justify both the investments made by private entities and the public pride invested in them. A large part of the 100 are just new successes.