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“We have been celebrating unicorn for many years. But if you just trace back to understand, why does this term exist? This term was actually invented by a venture capitalist in the US in the context of the US, where companies over $1 billion are called a unicorn, which is actually a mythical figure,” said Entrepreneur and Investor Kunal Bahl when asked why he coined the term “Indicorn”.
“As I was reflecting on it over the years, having built a unicorn, having funded many companies which became unicorns, I just realised that why are we celebrating these when actually what our country needs right now is lasting enduring businesses where start-ups are built off the back of real revenues and real profits?,” he added, while speaking at the NDTV World Summit 2024.
Mr Bahl called to focus on building businesses with the intention of making them lasting and enduring and aim for goals which enable us to get there. “What India probably needs right now is not 100 or 200 or 300 unicorns or 500 unicorns. We need 10,000 Indicorns because that will form the bedrock of the start-up ecosystem and that will create the steady flow of companies that eventually become listed companies and large businesses.”