Do you think that IITs are so over-hyped? Stop it right there if you do. We have a pretty good reason for it. A UK-based accounting and payroll company named Sage came out with a research released recently that had the list of universities that have produced the most unicorn founders. And guess who bagged the fourth spot in the list? Yes, the Indian Institutes of Technology (IITs).
While US-based Stanford University stood at the first spot with 51 unicorn founders, Harvard University grabbed the second spot with 37. And the third was won by the University of California 18 unicorn founders and IIT followed with 12 founders.
If you’re wondering what are these ‘Unicorns‘ then let us tell you. Unicorns are startups with more than a billion-dollar valuation and you would be proud to know that India is home to 10 unicorn companies, making them the poster boys of the country’s startup ecosystem.
The giant startups like Flipkart, Snapdeal, ShopClues, Ola, Zomato, Quickr, Paytm, Hike etc. have carved the niche for themselves in the elite club and almost all the founders have had stints at one of the IITs.
According to the sources, within the various IITs, it is Delhi that produced the maximum unicorn founders. Sachin and Binny Bansal of Flipkart, Sanjay Sethi of ShopClues, Zomato founders Deepinder Goyal and Pankaj Chaddah, Snapdeal’s Rohit Bansal and Quikr’s Pranay Chulet and Jiby Thomas (now founder of Webbutterjam Digital) are all products of IIT Delhi. Ola’s founders Bhavish Aggarwal and Ankit Bhati went to IIT Bombay. Inmobi’s founders Naveen Tiwari, Abhay Singhal and Amit Gupta studied at IIT Kanpur while their co-founder Mohit Saxena went to IIT Roorkee.
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+ . The study also found 2007 to be the bumper founding year, with 29 companies joining the club, including Flipkart, while 2015 was identified as the year of the unicorn with 86 companies achieving the unicorn status. In contrast, 2016 came out poorly, with only 41 companies.