Unicorn companies: A comparative analysis of factors and conditions influencing their formation

Subject. The article examines the experience of developing foreign unicorn companies. Objectives. The study aims at exploring the factors influencing the formation and development of existing foreign unicorn companies. Methods. The study rests on generalization, analytical, comparative, and descriptive methods. Results. The paper identifies main features common to all unicorn companies that contributed to their formation, the drivers of their development and success (educational, legal, scientific, technical, financial, organizational, economic, socio-cultural). The findings can be used in devising programs to support Russian startups, as well as small and medium-sized businesses. Conclusions. There is no common algorithm leading from the inception of an idea and the birth of a startup to reaching the size of a unicorn company. What all unicorn companies have in common is that they have an impact on the economy of their countries and regions, contribute to the development of industries, act as an engine of innovation and technological progress, attract talented specialists, create new products and services that change the life and the way of doing business. In Russia, the problems faced by startups have not yet been overcome, which is a brake on their transformation into unicorn companies.