Indians Establish Most Unicorns Abroad: Report

Unicorns are essentially startups valued at a minimum of billion dollars and are not yet publicly listed. According to a report, Indian founders have produced more offshore unicorns than any other country, co-founding 109 unicorns outside of India compared to 67 within the country. London was identified as the most active city for unicorns outside of the US and China, followed by Bengaluru, Paris, and Berlin. The report also highlighted the symbiotic relationship between startups and strategic investment, with Tiger Global, Softbank, and HongShan identified as the world’s most successful unicorn investors.

The year 2024 has seen a slowdown in new unicorn investments, particularly when compared to the peak of 2021, as investor exits prove more challenging to achieve. Despite the possibility of some failures, unicorns are generally considered vital to the new economy. The unicorn count has increased to 1,453 across 53 countries and 291 cities, with the US leading with 703 unicorns, followed by China with 340. This marks a 7% increase from the previous year, setting a new world record.

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