India at present has 67 unicorns, which is decrease as in contrast with 68 such startups final yr, in keeping with the newest Hurun Global Unicorn Index 2024.
Of the unicorns based outdoors of India by Indians, considerably all have been within the USA (95), led by the Bay Area, with 4 within the UK, 3 in Singapore and a pair of in Germany
India at present has 67 unicorns, which is decrease as in contrast with 68 such startups final yr, in keeping with the newest Hurun Global Unicorn Index 2024. It, nevertheless, mentioned India produced extra offshore unicorns than another nation, co-founding 109 unicorns outdoors of India in contrast with 67 in India.
“India’s start-up ecosystem has slowed, with the number of unicorns down for the first time since the launch of Hurun list,” in keeping with the report.
Explaining causes for the slowdown in India, Anas Rahman Junaid, founder and chief researcher of Hurun India, mentioned, “India currently has 67 unicorns. India’s start-up ecosystem has slowed, with the number of unicorns down for the first time since the launch of our list. This is primarily fuelled by lack of investment into start-ups despite the recent stock market record highs. Another factor is that founders from India produced more offshore unicorns than any other country, co-founding 109 unicorns outside of India compared with 67 in India.”
Of the unicorns based outdoors of India, considerably all have been within the USA (95), led by the Bay Area, with 4 within the UK, 3 in Singapore and a pair of in Germany, he added.
The report mentioned whereas it’s encouraging to see the rise of Krutrim, India’s first AI unicorn, there stays a considerable hole when in comparison with the United States and China, which lead with 60 and 37 AI unicorns respectively. Infact, the highest 3 sectors contributing to new unicorns in China hail from New Energy, Semiconductors and AI Notably, the Aerospace or SpaceTech sector emerges as a essential frontier the place India lacks unicorns, a site the place each the US and China have superior with 10 unicorns every.
“This situation presents a crucial juncture for India. Failure to seize this moment risks India falling further behind the US and China in AI, New Energy, Semiconductors, and potentially Aerospace — a sector likely to rely on domestic innovation due to security considerations,” Junaid mentioned.
Unicorn Startups Across The World
Hurun Research discovered 1,453 unicorns on the planet, based mostly in 53 international locations and 291 cities. 430 unicorns noticed their valuations rise, of which 171 have been new faces. 170 noticed their valuations drop, of which 42 have been ‘demoted’ as their valuation not made the lower of $1bn. 37 have been ‘promoted’ out of the record, of which 29 went IPO and eight have been acquired. 895 noticed no change to their valuations. Their complete worth was $4.6tn.
The world’s unicorns are disrupting monetary companies, enterprise administration options and healthcare. A complete of 78 per cent promote software program and companies, led by FinTech, SaaS and AI, while 22 per cent have a bodily product, led by New Energy, Biotech, F&B and Semiconductors.
Hurun Report Chairman and Chief Researcher Rupert Hoogewerf mentioned, “The world has minted one unicorn every two days over the last year to take the total of known unicorns in the world to a new record of just under 1500. Despite the slowdown of the economy, China still managed to keep up with the US in terms of new unicorns, each minting more than one unicorn a week for every week of the year.”
A key characteristic of the Global Unicorn Index is that it’s compiled utilizing information from the world’s main buyers, the ‘entrepreneurs behind the entrepreneurs’, making this essentially the most complete record of the world’s unicorns, he added.
