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Ever marvel what founders of “unicorn” corporations, or startups value no less than a billion {dollars}, have in widespread?
After taking a look at information from 845 unicorns and a couple of,018 unicorn founders within the U.S. and U.Ok. from the previous decade, Defiance Capital discovered three widespread, qualitative traits within the “DNA” of unicorn founders:
- They don’t have a backup plan
- They’ve private tales of feeling restricted or unfairly handled
- They consider in themselves.
“The tales which can be popping out present loopy dedication,” Defiance Capital founder Christian Dorffer instructed TechCrunch.
Dorffer stated the founders all shared “starvation, self-belief, ingenuity, and resilience.”
Associated: A New AI Startup from Unicorn Founders Wants Businesses to Know Their ‘Worth’
The report discovered that 70% of unicorns had “underdog” founders, which the researchers outlined as founders who have been immigrants, ladies, or folks of shade.
The research additionally discovered that greater than half of the founders (53%) had levels from high international universities. Most founder groups (70%) had no less than one particular person with a STEM diploma (science, know-how, engineering, or math).
Founder groups have been extra widespread within the billion-dollar startup bracket than solo founders, with 80% of unicorns led by a workforce. Half of the founders surveyed have been serial entrepreneurs, so that they had created no less than one different firm earlier than reaching a billion-dollar-plus valuation with their unicorn startup.
Associated: Want to Start a Billion-Dollar Business? Look to These Two Industries, Which Have the Most Unicorn Growth
A separate February research found that two industries stood out final yr in producing unicorns: cybersecurity and synthetic intelligence. As of March 2024, there are greater than 1,000 unicorns world wide, together with OpenAI, Canva, and SpaceX, based on CB Insights.
Dorffer is now planning to create a podcast and interview lots of the unicorn founders surveyed within the research.
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