Finally got around to reading the updated unicorn analysis by Aileen Lee. It’s excellent, and so extensive that there’s not really much to comment. But there are two things that I’d like to briefly comment on:
The term “Unicorn”:
Lee & co updated the period so that it only includes companies founded the last 10 years. In a time where the unicorn expression is used everywhere, it’s nice to see them sticking to the original definition. Having a “time limit” as part of the definition emphasizes the “fast-growth” part of startups, which is important as VCs of course want to exit their funds. Not to say that you’re not a successful company if your valuation goes +$1Bn after > 10 years, but you’re not a unicorn (per definition). Even though it’d be cool if Medallia’s recent financing would give Norway a place on the list 🙂
Immigrants:
Been saying this a lot, immigrants rock! They are one of the strongest resources of any country, and countries/regions who are able to successfully integrate them will prosper in the long run. 40% of fortune 500s were started by immigrants, and the numbers show that this is a positive trend: as 50% of the unicorns on the list were founded by immigrants. This is a great underutilized advantage for Nordic startups as long as the US immigration laws stay unchanged. Take advantage of it!