In business terms, a 'unicorn' is a privately-owned startup company valued at over $1 billion. While unicorns have predominantly been a feature of well-developed economies, such as the USA and Europe, recent years have seen their increase in emerging economies – to the extent that these markets now host one-third of the world's unicorns. The emergence of unicorns from the Global South represents a transformative shift in the global business and innovation landscape. Despite limited systematic knowledge on this novel phenomenon, high-growth, innovation-driven companies from emerging economies are rapidly positioning themselves at the forefront of technology and business model innovation. These firms challenge the traditional dominance of established markets, asserting their influence on a global scale. This book offers an in-depth analysis of this fast-evolving process, covering a wide geographical range of unicorns. These dynamic new players have the impact and potential to reshape the future of business worldwide.

‘With vivid case studies and insightful analysis, this book showcases the remarkable journeys of startups from emerging economies that have turned challenges into opportunities. A must-read for entrepreneurs, investors, and anyone interested in the future of innovation – this book not only inspires but also provides a roadmap for navigating the dynamic world of unicorns in new geographies.'

Marco Aleman - Assistant Director General IP and Innovation Ecosystems Sector, World Intellectual Property Organization (WIPO)

‘This book analyzes an increasingly important topic – the evolution and strategy of unicorns from emerging countries. I praise the diversity of the cases and examples from all around the globe and the analytical approach that connects the growth of technology-driven startups, the local entrepreneurial ecosystems and the country conditions. The book contains practical managerial implications.'

Guilbert Englebienne - Co-Founder Globant, President Globant X, President Globant LatAm

‘A well-researched and compelling contribution to the field, this book bridges theoretical frameworks and empirical case studies to illuminate the complexities of entrepreneurial ecosystems and the impact of unicorns in emerging economies.'

Soumitra Dutta - Peter Moores Dean and Professor of Management, Saïd Business School