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

15 Nov

Government issues guidelines to curb misleading ads by coaching centres

'The central Government issued new guidelines aimed at curbing misleading advertisements by coaching institutes, specifically prohibiting false promises such as "100 per cent selec

Read More

15 Nov

Janjatiya Gaurav Divas

'Every year on November 15th, Janjatiya Gaurav Divas is celebrated to honor the contributions of these communities, especially in India’s freedom struggle.' 5th November

Read More

15 Nov

Supreme Court’s order on mandatory accessibility standards

'A bench of the Supreme Court last week ordered the Union government to frame mandatory rules for ensuring the accessibility of public places and services to persons with disabilit

Read More

India’s First Ai-Driven Magazine Generator

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