By definition, unicorns are rare and elusive. Whilst the term was first coined in 2013 to describe a privately held start-up company worth in excess of US$1 billion, trying to find the “next big thing” has long been the ambition of investors across the globe.
However, unlike the traditional “unicorns” of folklore, you don’t necessarily know one as soon as you see one. They may appear tempting as potential investments, with promises of significant returns, or involve cutting edge use of technology, but the past few years have shown that trying to pick the next unicorn is far from straightforward. There are as many headlines around losses and fraudulent schemes as there are news stories about truly game-changing businesses.
