It is the Indian Institute of Technology in India that tops the spot when you rank universities by the number of unicorn founders.
According to a new research report conducted by a UK-based Sage, an accounting and Payroll Company, the Indian Institute of Technology (IITs) is in the 4th position in the list of producing unicorn startups in the world.
Sage came out with the names of universities that have produced unicorn entrepreneurs in the past few years.
The report claimed that US-based Stanford University is in the top position as it has produced 51 unicorn entrepreneurs who are at the top of the world with great business ideas. According to this report, Harvard University is in 2nd place whereas the University of California is in 3rd position.
Sage has made this list on the parameters like Learning, Teaching Resources, etc. Whereas among the various Indian IITs, it is Delhi IIT on the top rank that has produced the highest number of unicorn founders.
US-based Stanford University maintained the 1st spot in the list with 51 unicorn founders followed by Harvard University with 37 unicorn founders. The University of California comes in 3rd spot with 18 unicorn founders.
IITs India follows the 4th position with 12 unicorn founders. The report claimed that all unicorns that have created billion-dollar startups have academic roots in IITs.
Within the last few years, the various IITs have produced India's startup eco system's unicorns.
Those startups which have valuations ranging above one million dollars are; Sachin and Binny Bansal of Flipkart, Deepinder Goyal of Zomato, Sanjay Seth of ShopClues, Rohit Bansal of Snapdeel, Pranay Chulet of Quikr and ShopClues's Sanjay Sethi are few names of the founders produced by IIT Delhi.
Bombay IIT produced Bhavish Aggarwal and Ankit Bhati, Ola's co-founders. These are a few names of successful founders who have an academic base in IITs.
How do IITs help in producing top entrepreneurs and leaders whom we call 'Unicorns'? Unfortunately, this is the reality that IIT graduates can pass several hurdles of entrepreneurship in the initial phase of startup.
As a result, investors bet on IIT graduates easily without thinking much about business ideas. While the graduates from other business schools often struggle more to be successful or win the confidence of investors.
Good faculty and students.
Follow rigorous study programs and competitive culture.
Confidence in starting again even if the idea fails.
Studies culture in these institutes has been cultivated over time.
Students carry a realistic approach that makes them connected to society.
They understand the problems that exist in society and look for effective solutions to solve these problems and become successful entrepreneurs.
A strong network of alumni.
IITs have a strong ecosystem that supports startups and entrepreneurs
All these factors contribute to creating the right ambiance to foster entrepreneurship and creating unicorns. Moreover, IIT graduates also prefer to go to Silicon Valley for higher studies so that they can get access to a better entrepreneurial ecosystem for creating billion–dollar startups rather than taking jobs.
The research also found that for over 60 percent of the founders, the current unicorn was the only company they had ever built. However, those who founded more than one company have, on average, a 34.5 percent higher valuation than those who founded just one company.
In terms of countries that are home to the most number of unicorns, the US tops the list with 144 unicorns, China is in second position with 47 unicorns while India grabs the 3rd position with 10 plus unicorns.
The year 2015 was identified as the year of the unicorn with 86 companies achieving unicorn status. Unlike 2015, in 2016 only 41 new companies came out even though the Indian government has launched "Startup India" and many other startup-friendly regulations.