From Myths to Reality: Kunal Bahl’s Bold Vision for Transforming Indian Startups into ‘Indicorns’

Kunal Bahl, co-founder of Snapdeal and Titan Capital, is reshaping how we think about startup success in India. He argues that being called a “unicorn,” meaning a company worth over $1 billion, doesn’t really fit the Indian business scene. Instead, he introduces a new term: “Indicorn.” This term honors profitable Indian businesses that focus on sustainable practices and strong revenue rather than just chasing high valuations.

Bahl stresses the importance of focusing on profitability and creating lasting revenue. An Indicorn should:

• Generate over Rs 100 crore in revenue
• Prioritize long-term profits
• Create jobs and contribute to the economy
• Be registered in India

He believes that many startups get too caught up in seeking outside funding and boosting their valuations. Instead, they should aim to build solid, revenue-generating enterprises that help India grow economically.

Another concern Bahl raises is the trend of Indian startups registering outside the country, like in Singapore or the U.S., in search of easier funding and global opportunities. He argues that India’s investment environment has improved significantly, offering plenty of chances for startups to flourish within the country. With government support, venture capital, and a booming digital market, India is becoming a better place for startups than ever.

Bahl’s goal is to create 10,000 Indicorns in the coming years—businesses that can grow while staying financially healthy. He believes moving from unicorns focused on valuations to Indicorns focused on earnings will help strengthen India’s startup scene, create jobs, and foster economic stability.

Overall, Bahl’s Indicorn concept offers a new way to view success in the Indian startup world. By concentrating on revenue and sustainability, this shift could help build a more resilient and self-sufficient startup ecosystem in India.