What’s in the news?
- The wave of Unicorns in India has soared to new heights as the country witnessed the birth of its 100th Unicorn on 2nd May 2022. Today, 1 out of every 10 unicorns globally have been born in India.
- The term ‘Unicorn’ refers to the rarest of the rare startups who become Unicorns attaining a valuation of more than USD 1 billion.
- The Indian Startup Ecosystem, the third-largest in the world in number of Unicorns, as of 5th May 2022, is home to 100 unicorns with a total valuation of USD 332.7 billion.
- 2021 experienced a huge surge in the number of unicorns, registering a total of 44 startups entering the Unicorn club through the year with a total valuation of USD 93 billion.
- Since the launch of the Startup India initiative in 2016, more than 69,000 startups have been recognized in the country till 2nd May 2022.
- The vision of Atmanirbhar Bharat is rooted deeply in the Startup Ecosystem and shall continue to prevail in the coming years.