Kunal Bahl Advocates for Thousands of Indicorns at NDTV World Summit 2024
On October 22, Kunal Bahl, a renowned entrepreneur and investor, spoke at the NDTV World Summit 2024 in New Delhi. Bahl, co-founder of AceVector Limited, the holding company for Snapdeal, emphasized the need for India to focus on creating thousands of Indicorns rather than a few hundred Unicorns. He questioned the obsession with Unicorns, companies valued at over USD 1 billion, and suggested that India should aim to build enduring businesses with sustainable goals.
What are Indicorns?
Indicorns are companies that generate over Rs 100 crore in revenue and are profitable. Bahl believes that having 10,000 Indicorns would strengthen the startup ecosystem and lead to a steady flow of companies that could become large businesses.
Unicorns vs. Indicorns
Unicorns are startups valued at a minimum of USD 1 billion and are not yet publicly listed. India currently has over a hundred Unicorns. Bahl argues that the Unicorn valuation is a “mythical figure” and that the focus should shift to creating more Indicorns.
Startup India Initiative
The Startup India initiative, launched by the Indian government in January 2016, aims to foster innovation and startups to drive economic growth and create employment. As of June 2024, 140,803 entities have been recognized as startups, creating over 15.53 lakh direct jobs.
Doubts Revealed
Kunal Bahl -: Kunal Bahl is a businessman from India. He is known for co-founding AceVector Limited, which is a company involved in various business ventures.
Indicorns -: Indicorns are companies in India that make a lot of money, specifically over Rs 100 crore in revenue. They are different from Unicorns, which are valued at over USD 1 billion.
Unicorns -: Unicorns are companies that are valued at more than USD 1 billion. They are called Unicorns because they are rare and special, like the mythical creature.
NDTV World Summit 2024 -: The NDTV World Summit 2024 is a big event where important people talk about ideas and plans for the future. NDTV is a popular news channel in India.
Startup India initiative -: The Startup India initiative is a program started by the Indian government in 2016. It helps new businesses, called startups, to grow and create jobs.
Rs 100 crore -: Rs 100 crore is a large amount of money in Indian currency, the Rupee. It is equal to 1 billion Rupees.
AceVector Limited -: AceVector Limited is a company co-founded by Kunal Bahl. It is involved in various business activities and ventures.