The Hurun Global Unicorn Index 2024, which was issued on Tuesday, indicates that the start-up ecosystem in India has experienced a difficult period, representing the country's first fall in unicorn formation since 2017. Hurun India's Chief Researcher and Founder, Anas Rahman Junaid, noted that "the slowdown is primarily fuelled by lack of investment into start-ups despite the recent stock market record highs." Junaid went on to draw attention to a trend in which Indian entrepreneurs are creating a greater number of unicorns outside than domestically, with the bulk being in the US. 2024 Global Unicorn Index The index offers a ranking of the most valuable start-ups in the world that were established in the 2000s; each is valued at least $1 billion and is not yet listed on a public exchange. Top 10 unicorns worldwide in 2024 The US and China account for four of the top ten unicorn populations, respectively. One unicorn apiece from Malta and Australia completes the list. Important Hurun Global Unicorn Index 2024 highlights: • Binance, Canva, and OpenAI debuted among the top ranks in 2024. • Telegram, Revolut, and Cainiao, previous leaders, were demoted. ByteDance has surpassed Tencent and maintained its leadership position with a $220 billion valuation. • The valuation of Elon Musk's SpaceX increased by $43 billion. • Due to its creative use of AI, OpenAI's worth soared to $100 billion. The nations and towns home to unicorns worldwide There are now unicorns in 291 cities and 53 nations. The US and China are in the lead, with India reaffirming its status as a significant center for cutting-edge companies. AI milestone in India and worldwide disparity Although Krutim, India's first AI unicorn, rose to prominence, the country is still far behind China and the US in terms of AI innovation. With 60 and 37 AI unicorns, respectively, the United States and China lead the field. "India finds itself at a critical juncture," Junaid stated, highlighting the nation's vulnerability to further deterioration in critical technical domains. https://today-news.co.in/2024/04/11/global-unicorn-index-2024/