A big milestone has been achieved as India witnessed the emergence of the 100th unicorn on May 2, 2022. The wave of unicorns has soared to new heights, with 1 out of every 10 unicorns globally being born in the country.
Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal shared the news on Twitter, “India hits a century in style! Bengaluru-based startup becomes the country’s 100th unicorn. India = Ideas + Innovation + Investment”
The term ‘Unicorn’ refers to the startups that have attained a valuation of more than USD 1 billion. The Indian Startup Ecosystem is the third-largest in the world in number of Unicorns, with home to 100 unicorns having a total valuation of USD 332.7 billion.
Since the Startup India initiative had been launched on January 16, 2016, over 69,000 startups have been established in India till May 2, 2022. With innovation in varied sectors, startups are solving problems in 56 sectors with 13 percent from IT services, 9 percent from healthcare and life sciences, 7 percent from education, 5 percent from professional and commercial services, 5 percent from agriculture, and 5 percent from food & beverages.
The startup ecosystem in India continues to work efficiently toward the mission of self-reliance and self-sustainability. It is aligned with the vision of Atmanirbhar Bharat and shall continue to prevail in the coming years.
