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What is the News?
Hurun Research Institute has released the Global Unicorn Index 2021. The index is a ranking of the world’s start-ups founded in the 2000s, are worth at least a billion dollars and are not listed on a public exchange.
| Read more: 1,600 new tech start-ups and 12 unicorns in 2020: Nasscom’s Indian Tech Start-up Ecosystem report |
What are the key findings of the Global Unicorn Index 2021?
India has a total of 54 Unicorns. It is ranked third in the world, after the United States and China.
Note: A unicorn is a term used in the venture capital industry to describe a startup company with a value of over $1 billion.
India has added 33 Unicorns in a single year. This has helped India overtake the UK in the number of Unicorns.
However, US and China are way ahead of India in the number of Unicorns. The US has added 254 unicorns and now totals 487 companies, while China added 74 to take its tally to 301 Unicorns. These top-two occupants are home to 74% of the unicorn universe.
| Read more: Can unicorns solve the country’s youth unemployment problem? |
What is the reason for India’s Unicorn Boom in 2021?
China’s crackdown on tech companies has helped India bolster its attractiveness as an emerging market alternative. Experts predict that India will be home to more than 150 unicorns by 2025.
Moreover, this unprecedented funding boom is expected to spill over to the next year as well, helped by India’s rapid adoption of technology and innovative offerings from startups.
| Read more: Decoding The Unicorn Nation |
Source: This post is based on the article ‘‘India adds 33 unicorns in one year, displacing U.K.’’ published in The Hindu on 23rd Dec 2021.
