Delhi-NCR has 10 unicorns (companies with a valuation of over $1 billion) compared to nine in Bengaluru, two each in Mumbai and Pune and one in Chennai.
Within Delhi-NCR, Delhi accounted for 4,491 start-ups, Gurugram 1,544 and Noida 1,004 new businesses. The report highlighted that Delhi-NCR has 10 unicorns, companies with a valuation of over $1 billion, compared to nine in Bengaluru, two each in Mumbai and Pune and one in Chennai. With appropriate interventions, Delhi-NCR can become one of the top-5 global start-up hubs and could have over 12,000 active technology start-ups, 30 unicorns and account for cumulative valuations of more than $150 bn, it added.
“What’s encouraging about the ecosystem in Delhi-NCR is that we actually have a very broad varied mix...As a region, NCR has created one at least one unicorn every year since 2013... And unlike other regions, the 10 unicorns that we have, they’re not from one particular sector, they are from fin-tech, e-commerce, logistics, food, energy and so on,” TiE Delhi-NCR President Rajan Anandan said at an event here.
Niti Aayog CEO Amitabh Kant, who released the report, highlighted that six Indian cities, Delhi, Mumbai, Bengaluru, Chennai, Hyderabad and Pune, are among the top-100 start-up hubs globally. “Except the US, no other country has more than five cities in the list, making India truly a broad-based start-up ecosystem,” he added.