Unicorn Surge: India's Startup Ecosystem Boasts 112 Unicorns Valued at $350.71 Billion

India's Startup Ecosystem Boasts 112 Unicorns Valued at $350.71 Billion

1. Gujarat, Karnataka, Kerala, and Tamil Nadu are recognized as the best-performing states with a population over 10 million in the field of startups.

2. Himachal Pradesh is acknowledged as the best performer among states with a population less than 10 million in the startup sector.

3. Commerce Minister Piyush Goyal highlighted the pivotal role of startups in India's journey toward becoming a developed nation by 2047.

4. The number of unicorns in India has risen to 112, with a cumulative valuation of $350.71 billion.

5. Goyal emphasized significant progress in the startup sector over the past eight years, noting that startups have transitioned from being a novelty to an integral part of the national mainstream.

6. The term "unicorn" refers to startups valued at over $1 billion.

7. According to commerce ministry data till December 31, the number of registered startups in India reached 117,254 across 57 industry segments, with 48% of them having at least one woman director. The Startup India initiative was launched in 2016 when the total number of startups was approximately 400.