Apple recently reached $1 trillion mark and the world looked at the fancy phone company in awe. Warren Buffet never imagined the bookseller, Jeff Bezos, reaching a gigantic level with Amazon and matching Apple’s progress. There are some industries that thrive because of the innate demand for their products, and then every once in a while comes a company that skyrockets to success because of its brilliant execution around creating a demand for its products and carving a whole new industry. Such a company, born out of nowhere and making its way ahead quickly in innovative ways to reach the $1B mark was sometime back assigned the sobriquet ‘Unicorn’. They are rare and imaginary, until one day they become real.
Thanks to renewed-globalization, strong desire to do good, changing consumer behavior and optimism of overwhelming success, millennials in India are enchanted by this once doubted choice of starting one’s own company. Taking the path less taken, becoming one’s own boss and the dire need for turbo financial rewards fueled with unprecedented career growth is persuading many to opt for entrepreneurship as their primary or secondary option. Our escalation as a top global economy is directly proportional to the rise of ‘Entrepreneurial India’ and for a young country with a younger population, the timing cannot be better. Recent success and growing attention of global media towards India’s indigenous companies for their soaring valuations, high-value merger deals and disruptive offerings in the domestic market have helped improve the youth’s business-perceptions and reduced the fear of failure rate. With growing internet connectivity, ambitious individuals and opportunities at large, the unexplored business territories are finally seeing their trespassers.
A huge drive for the youngsters and potential entrepreneurs is the success and celebration of Flipkart and Paytm, but more importantly the offer of hope, which has been further encouraged by the perennial news and frequenting social media articles. Let’s look at the India’s growing Unicorn Club.
INDIAN ECOMMERCE UNICORNS
Flipkart, Online marketplace
ShopClues, Online marketplace
Big Basket, Grocery and retail
Udaan, B2B trade platform
Policy Bazaar, Insurance marketplace
INDIAN LOGISTICS UNICORNS
Rivigo, Technology-enabled logistics startup
Delhivery, E-commerce focused logistics startup
INDIAN ENERGY UNICORNS
ReNew Power, Renewable energy
INDIAN EDUTECH UNICORNS
Byju, Online tutoring
INDIAN SOCIAL MEDIA AND ADVERTISING UNICORNS
Hike, Messaging app
In-Mobi, Mobile advertising
INDIAN PAYMENT SOLUTION UNICORNS
Billdesk, Payment solutions
Paytm, E-commerce payment system
Pine Labs, Digital payment company
INDIAN TRANSPORTATION AND HOSPITALITY UNICORNS
Ola cabs, Online transportation company
OYO chains, Hospitality chain
MakeMyTrip, Online travel company
INDIAN FOOD DELIVERY UNICORNS
Swiggy, Food ordering and delivery solution
Zomato, Restaurant search and food ordering services
INDIAN IT UNICORNS
Freshworks, IT services software
The elevation of above Indian start-ups to the coveted ‘Unicorn’ tag has brought more attention to this dynamic and arduous space offering new business models and case studies to budding entrepreneurs. The diversity in the sectors of the companies such as logistics, fintech, software and the presence of edutech and energy sectors as well make entrepreneurship look fascinating and relatable to many. This article, with its timing for us and due to events in the news, presents a wonderful opportunity to take forward the conversation about developing local businesses that we mentioned while doing the book review for ‘The Reluctant Fundamentalist’ and we hope to keep this conversation alive and keep adding to the list.