Overview

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.

Full Product Details

Author:   Veneta Andonova (Universidad de los Andes, Colombia) ,  Diego Finchelstein (Universidad de San Andrés (Argentina)) ,  Juana García Duque (Universidad de los Andes, Colombia)
Publisher:   Cambridge University Press
Imprint:   Cambridge University Press
Weight:   0.847kg
ISBN:  

9781009469258

ISBN 10:   1009469258
Pages:   458
Publication Date:   08 January 2026
Audience:   General/trade ,  General
Format:   Hardback
Publisher's Status:   Active
Availability:   Manufactured on demand  
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Table of Contents

1. Entrepreneurial ecosystems from emerging markets and their unicorns: an overview Juana García Duque, Veneta Andonova and Diego Finchelstein; 2. Unicorns from emerging economies: a framework for analysing their genesis and nature Veneta Andonova, Diego Finchenstein and Juana García; 3. Unicorns: from silicon valley to a global phenomenon? Jan Jacob Vogelaar and Erik Stam; 4. Finding the unicorns: national entrepreneurship ecosystem approach José Ernesto Amorós, Eduardo Avancci Dionisio, Edmundo Inácio Júnior, Cristiano Morini and Liliane Oliveira Guimarães; 5. Where unicorns are born: innovation hubs in China Lourdes Casanova, Anne Miroux and Xingqi Ye; 6. A supply-demand model of Indian Start-ups and unicorns Ravi Ramamurti; 7. Entrepreneurial ecosystems and unicorns in Southeast Asia John R. McIntyre and James Hoadley; 8. Latin American unicorn firms: transcending entrepreneurial hubs Armando Borda, Ricardo Buitrago, Fernanda Cahen and Michel Hermans; 9. Can the MENA region build its indigenous start-up unicorns? Analysis of unicorns and soonicorns and the supporting entrepreneurship ecosystem Ayman Ismail and Sherif Kamel; 10. Nurturing unicorns and entrepreneurial ecosystems in Africa: harnessing policy innovation for digital transformation Fred Olayele and Mzukisi Qobo; 11. China private sector innovators: established disruptors and new challengers Lourdes Casanova, Anne Miroux and Xingqi Ye; 12. Brazilian unicorns and their triggers of scalability Moacir de Miranda Oliveira Jr. and Leandro Lima dos Santos; 13. A unicorn under sanctions: the case of yandex Andrei Panibratov and Kalman Kotayk; 14. What lies ahead for unicorns from emerging economies Diego Finchenstein, Veneta Andonova and Juana García; Glossary; Index.

Reviews

'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

Author Information

Veneta Andonova is a Professor and the former Dean of Universidad de los Andes School of Management, Colombia. She serves on UN PRME and GBSN International Advisory Boards. Professor Andonova's research on the topic of multilatinas and the Latin American business environment is collated in the edited volume Multilatinas: Strategies for Internationalisation (Cambridge University Press, 2017) Diego Finchelstein is an Associate Professor at Universidad de San Andrés and a researcher at CONICET. His research focuses on institutions, internationalisation, and innovation from emerging markets. He was Executive Director of the EMRN and is member of the executive board at AIB-LAC. He has also performed consultancy work for multilateral agencies. Juana García Duque is a Professor at Universidad de los Andes School of Management, Colombia. She was a Visiting Scholar 2019–2020 at David Rockefeller Center for Latin American Studies (DRCLAS). Her research activity in international development includes the role of international cooperation and the private sector in peace building and the study of internationalisation and emerging economies.

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