Highlights:
• A startup’s time to become a unicorn in India is minimum 6 months and max 26 years
• India received 44 unicorns worth a total of $93 billion last year.
• India received 14 unicorns worth $18.9 billion in the first four months of 2022.
India appears to be riding the unicorn wave, with 14 unicorns appearing in the first four months of 2022. The country was blessed with its 100th unicorn – Neobank Open – on May 2.
The Term “unicorn” refers to the rarest of rare startups with a valuation of more than $1 billion
With this accomplishment, India can now boast of producing one out of every ten unicorns in the world. The term “unicorn” refers to the rarest of rare startups with a valuation of more than $1 billion. The Indian Startup Ecosystem, the world’s third-largest in terms of unicorns, now has 100 unicorns with a total valuation of $332.7 billion.
In India, the minimum and maximum time it takes for a startup to become a unicorn is 6 months and 26 years, respectively.Last year, India received 44 unicorns worth a total of $93 billion. Meanwhile, India received 14 unicorns with a total valuation of $18.9 billion in the first four months of 2022.
Approximately one unicorn was added each year until fiscal year 2016-17. However, this has changed in the last four years (since fiscal year 2017-18), as the number has increased exponentially.
India’s startup scene
Since the initiative’s inception on January 16, 2016, over 69,000 startups have been recognized in the country, with the deadline set for May 2, 2022. These startups have been solving problems in 56 different industries, with IT services accounting for 13%, healthcare and life sciences for 9%, education for 7%, professional and commercial services for 5%, agriculture for 5%, and food and beverages for 5%.
