There has been a notable rise in the number of unicorns (startups valued at $1 billion or more) during the AI era, with AI companies reaching unicorn status in an average of 4.7 years, as per a recent report. The report by global venture capital firm Antler highlights a significant increase in unicorn creation, from an average of four companies annually between 2003-2013 to 148 per year between 2014-2024.
India has played a crucial role in the Asia-Pacific region by producing 109 unicorns between 2014 and 2024. Bengaluru leads with 46 unicorns, followed by Mumbai with 19 and Gurugram with 15, establishing these cities as prominent unicorn hubs. Additionally, Indian institutions like IIT Delhi are recognized among the top global universities for producing unicorn founders.
The report, which examined 1,629 unicorn companies and 3,512 founders from 2014 to 2024, underscores the rapid emergence of billion-dollar companies in the decentralized world driven by AI advancements. Fridtjof Berge, co-founder and chief business officer at Antler, predicts a further acceleration in this trend.
Data reveals that repeat founders make up about 40% of unicorn creators, with approximately 26% of unicorn founders being immigrants, a majority of whom are based in the United States. Notably, STEM backgrounds are prevalent among unicorn founders, accounting for around 60% of the total. However, female representation remains low at only 6%, despite a gradual increase in the past decade.
