Sign In
Learn bits
Economy
Mahesh

07/05/22 07:16 AM IST

India sees the emergence of the 100th unicorn

In News 
  • The wave of Unicorns in India has soared to new heights as the country witnessed the birth of its 100th Unicorn on 2nd May 2022. Today, 1 out of every 10 unicorns globally have been born in India.
About Unicorn 
  • The term ‘Unicorn’ refers to the rarest of the rare startups who become Unicorns attaining a valuation of more than USD 1 billion.
  • The Indian Startup Ecosystem, the third-largest in the world in number of Unicorns, as of 5th May 2022, is home to 100 unicorns with a total valuation of USD 332.7 billion. 
  • In the first four months of 2022, India has given birth to 14 unicorns with a total valuation of USD 18.9 billion.
Start Up India Initiative 
  • Launched on 16th January, 2016, the Startup India Initiative has rolled out several programs with the objective of supporting entrepreneurs, building a robust startup ecosystem and transforming India into a country of job creators instead of job seekers.
  • These programs are managed by a dedicated Startup India Team, which reports to the Department for Industrial Policy and Promotion (DPIIT).
Source- PIB 

More Related Current Affairs View All

10 Jan

Rural landowners in Delhi want repeal of Sections 33 and 81 of Delhi Land Reforms Act

'Both sections dealing with the use and sale of agricultural land have come under the spotlight ahead of the Delhi Assembly elections.' This can only be done by the Central gove

Read More

10 Jan

Pravasi Bharatiya Diwas

'Prime Minister Narendra Modi inaugurated the 18th edition of the Pravasi Bharatiya Diwas  in Bhubaneswar.' The event is held once every two years to “honour the cont

Read More

10 Jan

Deciphering the Indus script

'Recently, Tamil Nadu Chief Minister M.K. Stalin announced a $1-million prize for experts or organisations in the event of their success in deciphering the scripts of the Indus Val

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps