According to the Global Unicorn Index 2023 published by Hurun Research Institute, India is ranked 3rd on the index with 68 unicorns (up 14 compared to 2022). Online educator BYJU’S worth USD 22 billion topped the list of Indian Unicorns, followed by on-demand delivery start-up Swiggy and fantasy sports platform travel-stay finder Dream11 (USD 8 billion each).
- The United States of America(USA) topped the index with 666 unicorns, up 179 compared to 2022, followed by China in 2nd spot with 316 unicorns (up 15).
- BYJU’S is the only Indian Unicorn among the list of the top 10 biggest rises in valuation since pre-Covid.
Top 5 Countries & Cities with Most Unicorns:
| Rank | Country | Number of Unicorns | City | Number of Unicorn |
|---|---|---|---|---|
| 1 | USA | 666 | San Francisco(USA) | 181 |
| 2 | China | 316 | New York(USA) | 126 |
| 3 | India | 68 | Beijing(China) | 79 |
| 4 | The United Kingdom | 49 | Shanghai(China) | 66 |
| 5 | Germany | 36 | London(UK) | 42 |
Top 5 Global Unicorn Index 2023:
| Rank | Unicorn | Valuation (USD billion) | Country | Sector |
|---|---|---|---|---|
| 1 | ByteDance | 200 | China | Social Media |
| 2 | SpaceX | 137 | USA | Aerospace |
| 3 | Ant Group | 120 | China | Fin Tech |
| 4 | Shein | 65 | China | E-Commerce |
| 5 | Stripe | 50 | USA | Fin Tech |
Key Points:
i.The world’s unicorns come from 48 countries, up from 42 in 2022, spread around 271 cities, up from 221.
ii.In terms of unicorn investors, Sequoia Capital, Tiger Global Management, and SoftBank are the top three, having invested in 238, 179, and 168 unicorn startups, respectively.
iii.According to Hurun Research, found 508 new unicorns from 16 countries. The new unicorns were worth USD 938 billion.
- Among these, 250 are from the USA, 107 from China and 22 from India.
iv.The best-performing unicorns in the world in 2022 were Shein, SpaceX and OpenAI, which added USD 45 billion, USD 37 billion and USD 17 billion respectively.
Highlights (India):
i.According to the 2023 index, the number of Indian unicorns established outside of India is higher than the number of Unicorns based within India.
- Out of the total 138 Indian unicorns, 70 are established by Indian co-founders but have headquarters outside India and 68 are based in India.
- Founders from India, China and Russia are producing more offshore unicorns than any other country.
- India has the highest number of emigrant unicorn founders, followed by China, Israel and Russia.
ii.The index also revealed that India ranks 3rd in terms of the number of gazelles.
- India stands 5th in the list of the highest number of Hurun Global 500 companies.
iii.India and China have a higher proposition of gazelles and unicorns, which would increase the number of Hurun Global 500 companies over the next 5 years.
- France, Canada, and Australia, with a lower proportion, are likely to lose their positions on the Hurun Global 500 list.
By Cities:
i.San Francisco (USA) has retained its title as the ‘World Unicorn Capital’ with 181 unicorns, up 30. New York(USA) is at 2nd position with 126 unicorns, up 41 followed by Beijing (China) with 79 unicorns and Shanghai (China) with 66. London stands 5th with 42 unicorns followed by India’s Bengaluru(Karnataka) and Shenzhen(China) with 33 unicorns.
ii.San Francisco, Shanghai, Beijing, Shenzhen and Bengaluru are the cities with high number of start-ups and ought to have more Hurun Global 500s within 5 years.
Note:
- Unicorns are privately held startup companies valued at over USD 1 billion.
- According to Hurun, Gazelle – startups established in the 2000s and valued at over USD 500 million, not yet listed and likely to become a unicorn in 3 years and Hurun Global 500 is a list of the 500 most valuable non-state-controlled businesses in the world.
About Global Unicorn Index:
i.The Global Unicorn Index is compiled by the Hurun Research Institute and includes companies founded in the 2000s with a current valuation of US$1bn, not yet listed on a public exchange.
ii.Cut-off for this 2023 index was 31st December 2022, with significant valuation changes updated right up to the date of release.
iii.Hurun Research has been tracking unicorns since 2017.
Recent Related News:
According to the ‘2023 M3M Hurun Global Rich List,’ India is ranked 3rd in terms of the number of self-made billionaires, with a total of 105 on the list. These 105 self-made billionaires have a cumulative wealth of USD 381 billion.
