14. (a) What is a Unicorn startup? Who coined the term?

14 (a) A start-up is referred as a Unicorn if it has following features: A privately held start-up.Valuation of start-up reaches US$ 1 Billion.Emphasis is on the rarity of success of such start-up.Other common features are new ideas, disruptive innovation, consumer focus, high on technology etc. However, it is important to note that in case the valuation of any start-up slips below US$ 1 billion it can lose its status of 'Unicorn'. Hence a start-up may be Unicorn at one point of time and may not be at another point of time. India has now emerged as the 3rd largest ecosystem for startups globally, after US and China, with over 59,000 DPIIT-recognized startups. The next milestone for a Unicorn to achieve is to become a Decacorn, i.e., a company which has attained a valuation of more than US$ 10 billion. This term was coined by venture capitalist Aileen Lee, first time in 2013.