You are probably wondering, is it the horned horses? Here in the startup world, unicorns refer to a privately held company that has achieved a valuation of over $1 billion. They are considered rare and valuable to a startup ecosystem.
Indian startups are no longer confined to the boundaries of the subcontinent, as they are moving towards US and European markets by setting up offices in Silicon Valley and forging strategic partnerships with American companies to spread their wings in the European markets, which offer a large landscape of opportunities.
The startup value in India of over $1 billion has been making headlines for its growth and disruptive business models. So far, companies like Flipkart, Ola, and Paytm have made startups that dominate the domestic market and offer their services to the global audience in the international market.
With this expansion, they aim to get certain benefits like:
- Access to Larger Markets and Diverse Demographics: These regions (US and Europe) have vast consumer markets, which can provide substantial growth opportunities for Indian markets. These regions are flooded with investors, technological partners, and talent, which can be leveraged by Indian markets to enhance their brand visibility, and local resources, and tap into their advanced technology and innovation.
- Availability of Venture Capital and Funding Opportunities: In recent years, there has been an increase in both domestic and international venture capital firms eager to support innovative startups. They have also experienced good funding rounds, with unicorns attracting large sums of capital, helping them to invest in technologies, scale operations, and boost their marketing efforts.
- Collaboration and the Likes: Joint ventures, strategic alliances, or even simple partnerships help them navigate the complexity of the market while accelerating their growth.
Tell me, what is a successful startup without a challenge? Even unicorns might have found it difficult at some point to fly. When Indian startups make a stand in the global market, they are often faced with regulatory challenges, different legal frameworks, privacy laws, and tax regulations. However, with careful planning and expert guidance, these challenges can be overcome, allowing them to soar again.
Now a good question is, how successful have the startups been? Let’s use the case studies:
- Flipkart’s Growth into the US Market: From selling books online to taking on the Amazonian giants in the US market, Flipkart has shown that Indian startups can play with the big boys and come out swinging. It’s a success story that even Bollywood would be proud of.
- Ola’s Growth in European Markets: Ola didn’t just stop at disrupting the taxi industry in India; they decided to give the European markets a taste of their magic. From London to Barcelona, Ola is proving that Indian startups can prance on the global stage with finesse.
With the few examples shown above, it is indeed possible that Indian unicorns have thrived in the US and European markets, paving the way for a new global era of entrepreneurship.