Global Unicorn Index 2021 – UPSC Prelims

Global Unicorn Index 2021:
  • Released by Hurun Research Institute.
  • The index is a ranking of the world’s start-ups founded in the 2000s, are worth at least a billion dollars and are not listed on a public exchange.
  • Key findings:
    • India has a total of 54 Unicorns (Startup valued > $1 Billion) . It is ranked third in the world, after the United States and China.
    • India has added 33 Unicorns in a single year. This has helped India overtake the UK in the number of Unicorns.
    • However, US and China are way ahead of India in the number of Unicorns. The US has added 254 unicorns and now totals 487 companies, while China added 74 to take its tally to 301 Unicorns. These top-two occupants are home to 74% of the unicorn universe.
    • Reason for India’s Unicorn Boom in 2021: China’s crackdown on tech companies has helped India bolster its attractiveness as an emerging market alternative. Experts predict that India will be home to more than 150 unicorns by 2025.
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