Karnataka govt to place 'Unicorn' logo in Bengaluru
Premium- Bengaluru's unicorn logo: The design of the Unicorn logo structure is under progress by a financial solutions company
Regarded as the startup capital of India, Bengaluru has emerged as the city with the highest concentration of unicorns in the country. As a result, Karnataka Chief Minister Basavaraj Bommai has directed officials to identify a suitable place in the city to put up a Unicorn logo in Bengaluru. According to Crunchbase website, 53 Indian startups turned unicorns in 2021-22. Of them, 19 are in Bengaluru, 12 each in Mumbai, and in the National Capital Region (NCR), respectively.
The design of the Unicorn logo structure is under progress by a financial solutions company, according to the PTI news agency. As per the report, the structure that officials hope to be a major attraction in the city is likely to be put up at some place near Vidhana Soudha, the seat of the state legislature and secretariat.
Unicorns are companies with a valuation of $1 billion or more. India has seen a surge in the number of such startups.
Recently, Union Minister of State (Independent Charge) Science and Technology Jitendra Singh said India ranks globally third in the start-ups ecosystem and also in terms of the number of unicorns with the total number of privately held start-up companies valued at over $1 billion rising to 105. Out of the total 105 unicorns in India, 44 were born in 2021 and 19 in 2022.
Referring to Prime Minister Narendra Modi's launch of Start-up India from the ramparts of Red Fort in 2015, Singh said, India in its 75th year of Independence is now home to as many as 75,000 start-ups.
This year in May, India’s tally of unicorns reached 100. To share this proudful moment, Prime Minister Modi in his ‘Mann ki Baat’ radio broadcast said, "You surely know that a unicorn is a startup worth at least ₹7,500 crore. The total valuation of these unicorns is more than $330 billion; that is, more than ₹25 trillion. Certainly, this is a matter of pride for every Indian." Entrepreneurs, he added, were emerging from smaller cities and towns as well. “This shows that in India, one who has an innovative idea can create wealth".
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