If you aspire to create a billion-dollar business in India, one of the IITs is your best bet. Sage, a UK-based accounting and payroll company, stated this in a research released on January 27.
In a study that lists universities that have produced the most unicorn founders, the Indian Institutes of Technology (IITs) bagged the fourth spot.
US-based Stanford University claimed the top rank with 51 unicorn founders, followed by Harvard University with 37.
The University of California came third with 18 unicorn founders and IIT followed with 12 founders.
Unicorns are startups with more than a billion-dollar valuation.
India is home to 10 unicorn companies, making them the poster boys of the country’s startup ecosystem.
From e-commerce giants Flipkart, Snapdeal and ShopClues to cab aggregator Ola, restaurant aggregator Zomato, classified ads platform Quickr, digital payments company Paytm, mobile adtech player InMobi, messaging app Hike and analytics company Mu Sigma, these startups have grabbed spots in the elite club and almost all the founder have had stints at one of the IITs.
Within the various IITs, it is Delhi that produced the maximum unicorn founders.
In terms of countries that are home to the most number of unicorns, US tops the list with 144 unicorns, followed by China with 47. India grabs the third spot with 10+.
Source: The Economic Times