The Hurun Global Unicorn Index 2024 revealed

India ranks third globally in terms of unicorns

India has 67 innovative startups that are unicorns

The Hurun Global Unicorn Index 2024 reveals that India ranks third globally in terms of unicorns, boasting 67 of these innovative startups. Meanwhile, the United States leads the pack with a staggering 703 unicorns, followed by China with 340.

Interestingly, the report highlights India’s significant contribution to the offshore unicorn landscape, with Indians co-founding 109 unicorns outside their home country, surpassing the 67 within India itself.

However, despite this offshore success, India’s startup ecosystem faces challenges. For the first time since 2017, there has been a decline in unicorn creation within the country. In 2023, India had 67 unicorns, one less than the previous year, according to the Hurun Global Unicorn Index.

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The top spots in the global unicorn rankings are dominated by the US, China, and now India, with the UK and EU following closely at fourth and fifth positions, respectively. The collective value of these unicorns has reached an impressive $5 trillion, equivalent to the GDP of Japan in the previous year.

Additionally, the report notes broader trends within the unicorn landscape, including a total of 1,453 unicorns spread across 53 countries and 291 cities. Among these, 430 saw their valuations rise, with 171 being newly introduced.