According to a report released in August by Digi-Capital, the average value of a unicorn company is now $9.3 billion.
With forecasted revenue to be north of $850 billion in the mobile unicorn space alone in the next three years, it is hardly surprising that the number of unicorns playing specifically in mobile is growing. According to the Digi-Capital report, there are now 89 mobile unicorns across 18 sectors with 15 countries.
Between 2013 and 2014 the number of companies becoming unicorns doubled. A recent report from KPMG found that Sequoia Capital is the firm with the most unicorns in its stable; the VC firm counts 13 companies valued at over $1 billion including Stripe, Houzz, AirBnB, and Dropbox. It is followed closely behind by KPCB, which has 12 unicorns in its portfolio, including household names like Slack, Snapchat, and Uber.
At the upcoming Pause Fest 2016 in Melbourne, festival founder George Hedon says that he is super focused on attracting the most talented people in Australia to the many events that make up Pause Fest, and so the potential for finding Australia’s next billion dollar idea is limitless.
“Every startup dreams to become a unicorn and Australia hasn’t [got many other than Atlassian],” says Hedon. “Finding a unicorn is hard and in most cases its success depends on the founding team.”
The Pause Startup Expo is free to public but it also overlaps the Tech and Business Conference days. The venue is very important for any event and Pause has the pleasure to be nested in Melbourne’s cultural epicentre, Federation Square.
“We are looking to create an awesome experience for the exhibitors and visitors by installing a special bar, bringing networking lounges and decking out the space with AV,” says Hedon. “It’s going to be a spectacle and the place to hang out. For us it’s not about just exposing the startups to those in the know, niche groups and investors, it’s also about taking it to the general public because they are the real audience.”
This outlook has seen Pause Fest become the premier creative tech conference and festival in the Asia-Pacific region.
In fact, it is one of the many reasons that brands and startups choose to launch new products or new ventures at the conference. Companies like Zero Latency, Canva, For The People, BSchool, and Tractor School are just a handful of companies that have used the festival to launch to the public.
Pause Fest has also partnered with Social Traders this time around to host a pitch session for aspiring social enterprise startups to relay their business ideas to a panel of judges. Pause Fest will be working with organisations including BlueChilli, MAP, Optus Innov8, muru-D, NAB Labs, AngelCube, elevate61 and more to curate the best startups in the country, but is also looking for public submissions.
The judging panel will see entrepreneurs pitch them their business model and the social impact it will have on the world within 90 seconds. The startups will take turns on centre stage with exhibitors, where they will have the opportunity to feature on That Startup Show. Guests from the festival will also be featured on ABC Radio’s RN Drive with Patricia Karvelas, while Pause Fest will also be on Periscope throughout.
Founders wishing to participate can apply now. It’s going to be big!