This is how unicorns have changed our lives


September
6, 2021

6 min read

Viewpoints revealed by Entrepreneur factors are their own.

Start-ups have not just managed to place themselves successfully in the worldwide market; They have actually likewise established new tools to enhance the quality of people and enhance the economic advancement of the nations. A few of them have grown so greatly that they are now unicorns in a broadening community. This has been achieved thanks to the growing adoption of new innovations, this digital transformation was mostly triggered by the COVID-19 pandemic, but in spite of the reality that for many industries the sanitary constraints had an excellent influence on their finances, for startups represented a growth chance. “COVID-19 motivated the development of brand-new business from different sectors, more ingenious, with greater innovation and with a development prospective never ever seen prior to. These projects mainly react to the brand-new requirements of the population; For this factor, Venture Capital (VC) funds saw a fantastic growth chance in these companies, they invested in them and, today, the most appealing are already unicorns “, stated Modesto Gutiérrez, President and Cofounder of Miio, the very first telcobank of Mexico and Latin America. These are companies such as Nubank, Clip, Bitso, Mercado Libre, Rappi, Kio Networks, Softtek or Kavak, which have made the Venture Capital industry a growing market in the country and the world. According to figures from the Mexican Association of Private Capital (AMEXCAP), the flow of private capital investment in Mexico grew 4.2 times prior to the health contingency, which has made Mexico a hotbed for this community. Constant work and dedication is essential for a start-up to end up being a unicorn; However, it must be noted that there are other factors that have actually potentiated this change, such as: Disruptive innovation A scalable company model More direct interaction and interaction channels with the client They develop a relationship of trust and care about the user experience. They have a considerable effect on society. They offer innovative alternatives to typical issues. They explore new market alternatives. In Mexico, in 2020 a population of 84.1 million web users was approximated, according to the “National Survey on Availability and Use of Information Technologies in Homes (ENDUTIH) 2020”, prepared by the Federal Institute of Telecommunications (IFT). That stated, the digital landscape is key to the advancement and success of national start-ups, because access to the web will determine their development, while producing a much better quality of life in society. How have start-ups changed our lives? Given that its creation, the difficulty of every startup has been to convince VC funds to get funding and broaden their project. The development and scope of these companies has been so favorable that more financiers are betting on these business models. Startups have actually made individualss lives more practical. When it comes to unicorns, their success has actually been a source of motivation for other tasks, and has also created an environment conducive to promoting investments and building trust amongst prospective users. Not all start-ups have reached this goal, those that did have laid the structures for an ecosystem with greater possibilities for advancement and growth. Startups made life simpler for us by lowering the travel time to go to a place, open a savings account, do the grocery store, buy basic requirements, lease a property, secure insurance, save, amongst lots of others. Social unicorns Today, individuals who had never ever made an online purchase or merely did not have the understanding to download an app, or open a digital account, have before them the possibility of doing it in a basic and useful method. The start-ups changed their lives because they allowed them to access services and products that they otherwise would not have actually had the ability to get, hence decreasing poverty and social inequality. Start-ups, particularly unicorns, tie in with the Sustainable Development Goals defined by the United Nations (UN), especially those associated to ending poverty in all its kinds and worldwide, creating tasks dignity, reducing inequalities, building resilient infrastructure, promoting sustainable industrialization and fostering innovation as well as economic development. When it comes to unicorns, their success has actually been a source of inspiration for other jobs/ Image: Sofía Ugalde, Entrepreneur en Español According to the company, 700 million individuals in the world are in a serious scenario of hardship, so companies such as Fintech pay positively in this scenario by offering access to innovative monetary services, tools for much better management of the costs and enhance the lifestyle. Currently, start-ups face constant difficulties, however they have actually proven their strength and flexibility to challenging environments, for that reason these companies still have excellent prospective ahead and their benefits will be even higher in the future.

Consistent work and dedication is crucial for a startup to end up being a unicorn; However, it ought to be kept in mind that there are other aspects that have potentiated this improvement, such as: Disruptive development A scalable company model More direct communication and interaction channels with the client They develop a relationship of trust and care about the user experience. That said, the digital landscape is crucial to the development and success of nationwide start-ups, given that access to the internet will identify their progress, while generating a better quality of life in society. Startups made life much easier for us by lowering the travel time to go to a place, open a bank account, do the supermarket, purchase basic requirements, rent a home, take out insurance coverage, conserve, among lots of others. Start-ups, especially unicorns, tie in with the Sustainable Development Goals defined by the United Nations (UN), especially those related to ending hardship in all its forms and worldwide, generating tasks dignity, lowering inequalities, developing durable facilities, promoting sustainable industrialization and cultivating development as well as economic development. Presently, start-ups face constant obstacles, nevertheless they have actually shown their durability and adaptability to tough environments, for that reason these companies still have terrific possible ahead and their benefits will be even greater in the future.

This article was translated from our Spanish edition using AI innovations. Errors may exist due to this process.


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