Money9 Edit | Unicorns must ensure last-mile transformation
Indian startups have the golden opportunity to mobilise funds in a manner which will enable an ecosystem necessary for producing more job opportunities
In just three months in 2021, the unicorn club has seen 10 new entrants. An admirable feat, each of these entities must now ensure they are able to bridge the gap in uneven distribution of resources in a country like India.
There is no denying the effort and grit shown by entrepreneurs in driving this phenomenon. They have managed to create an ecosystem which rewards risk-taking projects and ideas.
In a country like India, it is necessary to build a culture which encourages entrepreneurship and holds out lessons for the youngsters who want to make a difference.
On April 8, Gupshup, the conversational messaging platform, entered the country’s unicorn club. The varied range of companies in the unicorn club indicates the potential that this country’s new economy possesses.
Some may point out that some unicorns are not delivering profits. But we also need to keep in mind that companies like Facebook and Amazon were loss-making entities for several years.
Having benefited from the insatiable thirst of investors looking to tap emerging markets, Indian startups have the golden opportunity to mobilise funds in a manner which will enable an ecosystem necessary for producing more job opportunities.
Otherwise, it will be a case of missing the forest for the trees.