News Index:
The number of unicorns in the country has declined for the first time since 2019 to 67, according to Hurun Global Unicorn Index 2024.
About Hurun Global Unicorn Index:
- The Global Unicorn Index is compiled by the Hurun Research Institute.
- It includes unlisted companies founded in the 2000s or later with a current valuation of $1 billion.
- Unicorns are startups worth at least a billion dollars and not yet listed on a public exchange.
Key findings of the Index:
- India’s startup ecosystem has slowed, with the number of unicorns declining for the first time since 2017.
- Hurun’s previous years’ unicorn index reported 68 unicorns in India in 2023 and 2022, 54 in 2021, and 21 in 2020 and 2019.
- As per the findings of the report Indian founders are establishing more unicorns abroad than at home, with a majority in the United States.
- Indian edtech company Byju's, which was valued at over USD 22 billion a year back, dropped off from the list.
- The US continued to lead the unicorn tally with 703 unicorns followed by China with 340 and India with 67 unicorns.
- By city, Bengaluru was ranked seventh with 32 unicorns and Mumbai ranked 19th with 14 unicorns. San Francisco with 190 unicorns, New York with 133 unicorns and Beijing with 78 unicorns were the leading unicorn hubs in the world.
