The Bommai-led government in Karnataka is aiming to install a unicorn logo in Bengaluru to mark the city’s specialty. The design of the structure is under progress by a financial solutions company.
Unicorn logo in Bengaluru
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.
Currently, the design of the Unicorn logo structure is in progress by a financial solutions company, official sources said. 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, sources said.
Unicorns in the country
Unicorns are companies with a valuation of USD 1 billion or more. India has seen a surge in the number of such startups in the last year and the country recently crossed 100 unicorns. According to research, 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.
Union Minister Jitendra Singh recently said that India ranks third globally in the startup ecosystem and also in terms of the number of unicorns, after the US and China, and that the country now has close to 49% of startups coming from the tier 2 and 3 cities.