Why will a unicorn logo be installed in Bengaluru? (Hint: It's no mean feat)

The Bommai-led government in Karnataka is aiming to install a unicorn logo in Bengaluru to mark the city's speciality, which hosts the largest number of start-ups and unicorns in the country.

The Basavaraj Bommai-led government in Karnataka is expected to soon install a unicorn logo in Bengaluru to mark the state capital's feat of having the largest number of start-ups and unicorns in the country. The state government on Monday announced its decision to put up a unicorn logo in Bengaluru to signify that the city is home to the biggest number of start-ups and unicorns in the whole country.

The unicorn statue will highlight Bengaluru for having the most number of start-ups and unicorns in the whole country. (Image for representation)(Image source: Animal Sculpture)

This comes after Inc42, a media firm, named Bengaluru as the top and most funded start-up hub in the country in its ‘The State Of Indian Start-up Ecosystem Report, 2022’.

In this regard, chief minister Basavaraj Bommai on Monday directed officials concerned to finalise a suitable place in the city to place the logo. 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. According to the data cited by the Crunchbase website, India saw 53 start-ups turning unicorns in 2011-22. Of these, 19 are said to be in Bengaluru.

A financial solutions company is making the design of the unicorn logo, authorities were quoted as saying by news agency PTI. This logo is likely to become a major attraction in the city. Authorities indicated that the logo is likely to be installed close to the Vidhana Soudha, the seat of the state legislature and secretariat. India has recently crossed 100 unicorns, the PTI report highlighted, and seen a surge in the number of such start-ups in the last year as well.