AI fuels unicorn boom; India global powerhouse

New Delhi: Artificial intelligence is accelerating unicorn creation worldwide, with AI-driven startups reaching $1 billion valuations in just 4.7 years on average, according to a new report by global venture capital firm Antler.

The report shows unicorn creation has surged dramatically, from an average of four companies annually between 2003 and 2013 to 148 per year during 2014–2024, reflecting the speed and scale of innovation in the AI era.

India has emerged as a major contributor within the Asia-Pacific region, producing 109 unicorns between 2014 and 2024. Bengaluru leads the pack with 46 unicorns, followed by Mumbai (19) and Gurugram (15), underlining the country’s growing depth across startup hubs. Indian institutions such as IIT Delhi rank among the world’s top universities producing unicorn founders, the report said.

The study analysed 1,629 unicorn companies and 3,512 founders globally over the decade. It found that repeat founders account for nearly 40 per cent of unicorn creators, while immigrants make up 26 per cent with 81 per cent of them based in the United States.

STEM backgrounds dominate the unicorn landscape, accounting for about 60 per cent of founders. However, women represent only 6 per cent of total unicorn founders, despite a gradual rise in female participation, said Antler India researchers Divita Aggarwal and Susmit Patodia.