The Hurun Global Unicorn Index 2025 marks a significant milestone in the global startup ecosystem. This year, the total number of privately held startups valued at over $1 billion, known as unicorns, has reached a record 1,523. These companies collectively worth $5.6 trillion are at the forefront of global innovation and entrepreneurship.
Global Growth of Unicorns
Since 2019, the number of countries with unicorns has increased by 120%, now totaling 52 nations. Unicorns are now spread across 307 cities, showing a 160% year-on-year increase in geographic diversity, expanding the startup ecosystem beyond traditional tech hubs.
Top 10 Countries by Number of Unicorns (2025)
- United States: 758 unicorns
- China: 343 unicorns
- India: 64 unicorns
- United Kingdom: 61 unicorns
- Germany: 36 unicorns
- France: 30 unicorns
- Canada: 28 unicorns
- Israel: 20 unicorns
- South Korea: 18 unicorns
- Singapore: 18 unicorns
Country Highlights
United States
The United States leads the world with 758 unicorns, almost half of the global total. San Francisco remains the “Unicorn Capital of the World” with 199 unicorns, followed by New York.
China
China has 343 unicorns concentrated in tech hubs like Beijing, Shanghai, and Shenzhen.
India
India ranks third globally with 64 unicorns, driven by sectors like fintech, gaming, and edtech.
United Kingdom
The UK ranks fourth with 61 unicorns, mainly in London.
Germany and France
Germany’s Berlin leads with 36 unicorns, while France’s Paris has 30 unicorns.
Canada
Canada has 28 unicorns, with Toronto as the top unicorn city.
Israel
Israel has 20 unicorns, excelling in cybersecurity, healthtech, and agritech.
South Korea and Singapore
Both countries have 18 unicorns each, mainly in Seoul and Singapore.
Top Cities by Unicorn Count
- San Francisco – 199 unicorns
- New York – 142
- Beijing – 91
- Shanghai – 69
- London – 55
- Shenzhen – 46
- Bengaluru – 36
- Paris – 32
- Palo Alto – 30
- Boston – 27
Key Insights
- The United States and China host over 72% of the world’s unicorns.
- India’s influence in the global tech scene is growing.
- Europe, led by Germany, France, and the UK, is increasing its unicorn count.
- Singapore’s rise signals Southeast Asia’s emergence in the innovation economy.
- Unicorns are expanding into fintech, healthcare, green energy, education, and gaming.
Key Takeaways for Competitive Exams
- Understanding the global unicorn landscape is crucial for aspirants preparing for competitive exams.
- Familiarity with the top countries and cities with the most unicorns can provide insights into the evolving startup ecosystem.
- Recognizing key sectors driving unicorn growth, such as fintech and healthcare, is essential for staying informed about industry trends.
- Awareness of emerging regions like Southeast Asia can help candidates grasp the shifting dynamics of the innovation economy.
