“Why and how are some startups able to achieve the status of Unicorn? What factors in the European entrepreneurial ecosystem facilitate the rise of this type of company?”

Details

Supervisors

Coeurderoy, Régis

Faculty

Louvain School of Management

Degree label

Master [120] : ingénieur de gestion, à finalité spécialisée

Abstract

Industries that have long been dominated by traditional business models are now welcoming new players who are disrupting what has already been established with new technologies and digital platforms. These are created by ambitious founders who want to dominate their market on a global level. It is with this approach that some startups manage to raise several million dollars of investment and reach a valuation of more than 1 billion dollars and achieve the coveted status of unicorn. The aim of this research thesis will therefore be to analyse how and why certain companies manage to become unicorns and what their distinctive financial, strategic and organisational criteria might be. The goal will also be to study why the European entrepreneurial ecosystem lags behind countries such as the US or China in terms of unicorn creation. For this purpose, an analysis of the three largest European markets will be made, i.e. the UK, Germany and France with a case study on the first Belgian unicorn as well. This analysis will be complemented by interviews with experienced entrepreneurs, executives and experts. In conclusion, we will see that a unicorn is not only a high-growth startup or a financial indicator, but above all a company that can change and facilitate the lives of a very large number of people and improve society in a global and positive way.