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University company partners with Royal Navy in a billion dollar startup (7)

Ross

I believe the answer is:

unicorn

I'm a little stuck... Click here to teach me more about this clue!

'startup' is the definition.
(I know that unicorn is a type of startup)

'university company partners with royal navy in a billion dollar' is the wordplay.
I cannot really see how this works, but
'university' could be 'uni' (informal abbreviation) and 'uni' is present in the answer.
'company' could be 'co' (abbreviation) and 'co' is present in the answer.
'royal' could be 'r' (abbreviation) and 'r' is found within the answer.
'navy' could be 'n' (common abbreviation eg in RN Royal Navy) and 'n' is found in the answer.
This accounts for all the letters.
This may be the basis of the clue (or it may be nonsense).

Can you help me to learn more?

(Other definitions for unicorn that I've seen before include "Imaginary, horned horse-like creature" , "Legendary one-horned horse" , "Fabulous animal like horse with horn" , "that's fabulous" , "Representative of Scotland" .)

I've seen this clue in the Sydney Morning Herald.
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