The activity of unicorn companies (private companies with a market value of 1 billion US dollars or more) in the Azerbaijani market is currently inappropriate and unrealistic.
Tech.az reports that Mammad Karim, head of the "Caucasus Ventures" venture fund, said this at the Baku Fintech Forum.
He said that it may be possible to create unicorn companies in Azerbaijan and enter foreign markets: "We should not target unicorns in Azerbaijan. Instead, we should prepare startups that respond to technological innovations and meet the requirements. Ordinary companies that offer sound technological solutions suitable for the market in Azerbaijan can operate more successfully. ".
It should be noted that, as a rule, unicorn companies are selected at the start-up stage and demonstrate excellent financial results, encouraging investors to invest in them. For example, they attract new customers in a short period of time, demonstrate record indicators of profit growth and produce a unique product.
There are hundreds of unicorn companies around the world and these companies operate in sectors such as demand, barter, e-commerce, retail, etc. Although most of the companies are technological, we can also see the term unicorn in different fields. Around the world, unicorns originate and thrive mostly in China, the United States, India, South Korea, and the United Kingdom. Companies like "WeWork", "Airbnb", "SpaceX", "DiDi", "Uber JUUL Labs" were once unicorn companies.
©report.az
