Mann Ki Baat : PM expresses pride that country’s number of Unicorns hits a century

New Delhi, May 29

Prime Minister Narendra Modi today expressed pride that the number of Unicorns in the country has reached one hundred.

Addressing the nation in his Mann Ki Baat programme’s 89th edition on All India Radio,  Mr Modi said the total valuation of these Unicorns is more than 330 billion dollars, which amounts to more than 25 lakh crore rupees. A Unicorn is a start-up worth at least 7.5 thousand crore rupees.

Mr Modi said  forty four Unicorns came up last year and 14 more were formed in 3 to 4 months this year. He stated that even during the pandemic, Indian start-ups have been creating wealth and value. The average annual growth rate of Indian Unicorns is more than those of the US, the UK and many other countries.

The Prime Minister pointed out that Indian Unicorns are diverse and operating in many fields such as E-commerce, Fin-Tech, Ed-Tech, and Bio-Tech. He happily noted that India’s start-up ecosystem is not limited to just big cities but entrepreneurs are emerging from smaller cities and towns as well. He said that this shows that in India,  one who has an innovative idea can create wealth.

The Prime Minister emphasised that right mentoring is very important in the Start-Up world. He said a good mentor can take a start-up to new heights… and guide the founders towards right decision. He said there are many such mentors in India who have dedicated themselves to promote Start-ups.

Mr Modi gave the example of Sridhar Vembu who recently received the Padma Award. He is a successful entrepreneur, who has now taken up upon himself to groom other entrepreneurs. Mr Shridhar is encouraging rural youth to do something in this area while staying in the village itself.

Mr Modi also mentioned Madan Padaaki who created a platform named One-Bridge in 2014 to promote rural entrepreneurs. Today, One-Bridge is present in more than 75 districts of southern and eastern India. More than 9000 rural entrepreneurs associated with it are providing their services to rural consumers. He also spoke about Meera Shenoy who is doing remarkable work in the field of Market Linked Skills Training for rural, tribal and disabled youth.