India's Startup Capital Bengaluru May Soon Get Its Own Unicorn Logo

The Karnataka Government has proposed to install a unicorn logo in the state capital Bengaluru, which is also home to some of the biggest startups and unicorn companies in India.

Karnataka Chief Minister Basavaraj Bommai on Monday instructed officials to identify a suitable place in the city to put up the unicorn logo.

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According to reports, the unicorn logo is aimed at highlighting Bengaluru's achievement of being the home to the most number of unicorn companies in India.

Unicorns of Bengaluru

"Since Bengaluru has the greatest number of startups and unicorns in the whole of country, a suitable place must be identified in the city to put up the unicorn logo in order to highlight and encourage it," Bommai said.

The unicorn logo design is under progress by a financial solutions company and the structure is expected to be a major attraction in the city, according to sources quoted by PTI.

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The design is likely to be put up at some place near Vidhana Soudha, the seat of the state legislature and secretariat.

Unicorns in India

As per the latest data, there are currently 105 unicorns in India, out of which 44 were born in 2021 and 19 in 2022. As many as 53 Indian startups turned unicorns in 2021-22, according to Crunchbase. Out of these, 19 are in Bengaluru, 12 in Mumbai and 12 in the National Capital Region (NCR).

Bengaluru, which is also the IT hub is home to nearly 5,000 startups.

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National capital Delhi has also emerged as one of the favorite locations for startups and according to the Economic Survey 2021-22, between April 2019 and December 2021 Delhi added more than 5000 new registered startups.

During the same duration, Bengaluru added 4,514 startups.

Maharashtra has the highest number of recognised startups at 11,308. India now has more than 61,400 startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT).

Startups from smaller cities

Earlier this month, Union Minister Dr Jitendra Singh had said that close to 49 per cent of startups in India are coming from the tier 2 and 3 cities.

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As per government data, as on 30th June 2022, a total of 72,993 startups are recognized by DPIIT, of which 34,473 (48%) recognized startups belong to metropolitan cities of Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru, Pune, and Ahmedabad. Therefore, over 50% of the recognized startups belong to non-metropolitan cities.

With close to 70,000 startups, India is the third largest birthing ground for startups in the world.

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