Karnataka government to install unicorn logo in Bengaluru

Bengaluru: To celebrate Bengaluru's accomplishment of having the most start-ups and unicorns in the country, the Basavaraj Bommai-led administration in Karnataka is anticipated to shortly install a unicorn logo in the city. The state government made the choice to display a unicorn emblem in Bengaluru on Monday to represent the fact that the city is home to the most start-ups and unicorns in the entire country.

In its "The State Of Indian Start-up Ecosystem Report, 2022," media company Inc42 ranked Bengaluru as the top and most funded start-up location in the country.

In this regard, chief minister Basavaraj Bommai on Monday gave the go-ahead for officials to choose an appropriate location for the logo in the city. Unicorns, by definition, are start-up firms that are valued at more than a billion dollars, typically in the software or technology sector, without stock market listing. 53 start-ups in India became unicorns between 2011 and 2012, according to data quoted on the Crunchbase website. 19 of them are reportedly located in Bengaluru.

­According to sources, a financial solutions company is creating the unicorn logo design. This logo has a good chance of becoming the city's top attraction. Authorities indicated that the logo is likely to be installed close to the Vidhana Soudha, the seat of the state legislature and secretariat. According to a report, India just passed the milestone of 100 unicorns and has seen a rise in the number of these start-ups over the past year as well.