Most Emigrant Unicorn Founders Worldwide Hail From India, finds Hurun Research Institute The organisation has recently released the Global Unicorn Index 2022 Half-Year Report, a ranking of the world's privately-held unicorns founded in the 2000s
By Soumya Duggal •
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It appears that India is making entrepreneurial strides not only within the country but also beyond it, with 56 unicorns of the world having been founded by emigrant Indians, according to a new report by the Hurun Research Institute.
The organisation, which has been tracking unicorns (i.e. startups worth at least a billion dollars) since 2017, also found that 80 per cent of the world's unicorns sell software and services, with only 20 per cent selling physical products. India currently leads the way for emigrant unicorn founders, followed by China, Israel and Russia.
As per Hurun's recently released Global Unicorn Index 2022 Half-Year Report, a ranking of the world's privately-held unicorns founded in the 2000s. The cut-off date used was June 30, 2022.
This report also includes the Most Successful Unicorn Investors in the World 2022 Half-Year Report (i.e. a ranking of the 100 most successful unicorn investors) and the Most Successful Unicorn Investors in China 2022 Half-Year Report (i.e. a ranking of the 30 most successful unicorn investors) based on the number of unicorns they have invested in.
The Global Unicorn Index 2022 Half-Year Report found 1,312 unicorns in the world, based in 48 countries and 259 cities. On average, they were set up eight years ago, i.e. in 2014. While 80 per cent sell software and services, with only 20 per cent selling physical products. Further, 48 per cent are consumer-facing, while 52 per cent sell to businesses. "The world's unicorns are disrupting financial services,business management solutionsand healthcare. The total value of all known unicorns in the world is $4.2 trillion, more than the GDP of Germany," said the report.
Additionally, the report recorded 369 'new faces', 81 drop-offs and 34 promotions. Of the 34 unicorns 'promoted', 25 went IPO and nine were acquired. Moreover, 81 were 'demoted' because their valuation dropped below $1 billion. While 223 unicorns saw their valuations increase in the last six months, 147 saw their valuations drop and 573 retained their valuation over the last six months.
Interestingly, the report also found that unicorn founders are 44 years old on average, meaning that they founded their unicorn when they were 36 years old. Unicorns have two founders on average. One third are serial entrepreneurs, having sold out of a previous start-up. While 40 per cent met at a previous job, 1 in 8 met at a university. Computer Science and Business Studies were the most common degrees pursued by the founders. One in five unicorns have at least one co-founder from outside the country of origin of the unicorn. The USA, especially Silicon Valley, attracted the most unicorn founders from abroad, followed by Europe. India led the way for emigrant unicorn founders, followed by China, Israel and Russia.
