As per a report by Avendus Wealth Management and Hurun India, 201 Indian entrepreneurs aged 36-40 have been recognized among 505 young global business leaders who are centimillionaires, surpassing China and the UK. Bengaluru stands out with 48 entrepreneurs on the list, solidifying its status as “India’s U40 capital.” The report highlights that across India, China, and the UK, a total of 505 entrepreneurs under 40 years old have been featured, with India leading the count at 201, followed by China with 194 and the UK with 110.
To be eligible for inclusion, individuals must be between 36 and 40 years old, with a minimum business valuation of $100 million for first-generation entrepreneurs and $200 million for those from subsequent generations. The report emphasizes that 83% of Indian entrepreneurs are first-generation founders, showcasing India’s burgeoning entrepreneurial spirit and leadership. Notably, IIT Kharagpur tops the list among undergraduate institutions with 15 alumni, trailed by IIT Delhi and IIT Madras with 10 each.
The software products and services sector dominates as the most represented industry, with 40 entrepreneurs, followed by healthcare with 18, transportation and logistics with 16, and financial services with 15. Collectively, these U40 entrepreneurs employ over 4.43 lakh professionals and oversee enterprises valued at $357 billion, approximately one-eleventh of India’s GDP. Apurva Sahijwani, MD & CEO of Avendus Wealth Management, remarked that the GDP contribution and employment generation underscore the economic impact already made by this generation.
In terms of first-generation entrepreneurs, the UK leads at 92%, followed by India at 83% and China at 72%. Regarding gender representation, China leads with 29 women entrepreneurs, trailed by India with 15. The report also notes that the headquarters of these ventures showcase each country’s innovation hubs: Bengaluru in India, Shanghai in China, and London in the UK. Notably, software products and services dominate in India and China, while financial services excel in the UK.
