Characteristics of B2B unicorn ideas

What are the characteristics of unicorns at the idea stage? When companies start to grow really fast and valuations shoot through the skies, the ideas seem obvious and and the companies feel like they’ve been natural unicorns from the start. As VC’s, it’s our job to identify the potential unicorns when they don’t yet look like unicorns.

We just posted “Characteristics of B2B unicorns” on Medium. These were the characteristics we identified and looked at in our research:

1. Potentially huge market
2. Novel product
3. Market dynamics:
3.1 New / overlooked market
3.2 Competitive market
4. Enabled by trend/change
5. Tech invention
6. Value proposition is obvious
7. Plan to market is clear
8. Ability to create and advantage / Difficult to compete against
8.1 Difficult to copy (Network/community)
8.2 Difficult to copy (tech)
9. No strong buyer power
10. No strong supplier power
11. Unfair advantage
12. Mixed models (B2C2B, B2B2C, B2D2B)

Our findings were that the following characteristics are shared among unicorns:

1. Potentially huge market
2. Novel product
8. Ability to create an advantage / Difficult to compete against

To learn about more of our findings read the original post at


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