NEW DELHI, India — Artificial intelligence is driving a rapid surge in unicorn creation globally, with AI-focused startups now reaching $1 billion valuations in an average of 4.7 years, according to a new report released on Wednesday.
The report by global venture capital firm Antler said unicorn formation has accelerated sharply over the past decade, rising from an average of four companies per year between 2003 and 2013 to 148 per year between 2014 and 2024.
India has emerged as a major contributor to this trend within the Asia-Pacific region, producing 109 unicorns during the 2014–2024 period. Bengaluru led the country with 46 unicorns, followed by Mumbai with 19 and Gurugram with 15, the report said.
Indian academic institutions are also playing a growing role, with IIT Delhi ranking among the top global universities producing unicorn founders.
The study analyzed 1,629 unicorn companies and 3,512 founders worldwide between 2014 and 2024.
“In today’s decentralized world, innovation can come from anywhere. With rapid advances in AI, billion-dollar companies are emerging faster than ever — and that pace is only set to accelerate,” said Fridtjof Berge, co-founder and chief business officer at Antler.
The data showed that repeat entrepreneurs account for about 40 percent of unicorn founders, while roughly 26 percent are immigrants, with 81 percent of those based in the United States.
Founders with STEM backgrounds dominate the landscape, making up around 60 percent of unicorn creators. However, women remain significantly underrepresented, accounting for just 6 percent of total unicorn founders, despite a gradual increase in female participation over the past decade, said Divita Aggarwal, associate at Antler India, and Susmit Patodia, former associate partner at Antler, who co-led the research.
The findings come amid growing momentum around India’s artificial intelligence ecosystem. The India AI Impact Summit 2026, held last week, highlighted India’s emergence as both a global host and heavyweight in AI innovation.
On the sidelines of the summit, Prime Minister Narendra Modi held a roundtable discussion with CEOs of AI and deep tech startups working across sectors such as agriculture, healthcare, and cybersecurity.
Startup leaders at the event pointed to India’s sustained policy push, rapid sectoral expansion, and growing global confidence in the country as an increasingly central hub for AI innovation and deployment. (Source: IANS)
