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India Pips China In Creating New Unicorns

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India has created the second-highest number of UNICORNS – 14 – in the first half of 2022. China’s zero-Covid policy, a series of lockdowns, and an economic slowdown seem to have affected start-ups in that country. China created just 10 new UNICORNS in the first half of 2022, despite having the second highest number of unicorns globally, according to the latest Hurun Global Unicorn Index released on September 06, 2022.

India ranks third in the number of UNICORNS created. “India consolidated its Top 3 spot with 68 unicorns, led by online educator BYJU’S worth $22bn, followed by on-demand delivery start-up Swiggy ($11bn) and fantasy sports platform travel-stay finder Dream11 ($8bn). A further 56 unicorns were started by Indian co-founders outside India, taking the total to 124 unicorns founded by Indians around the world,” the report noted.

Bengaluru accounts for 2.5 percent of the world’s UNICORNS. It added six new UNICORNS this year until June. New York and San Francisco have the highest number of unicorns.