Bengaluru: India created Unicorn not only in India, they also did it in the US.
A study by Ilya A Strebulaev, Financial Professor at Stanford University Postgraduate School, found that 90 of the 1,078 founders at 500 Unicorn US was born in India.
The strebulaev data includes US Unicorn between 1997 and 2019.
He tweeted that “more than four out of ten unicorn founders is the first gene immigrant.” Israel and Canada follow each with 52 and 42 founders.
Among the founders of the leading Unicorn Indian – past and present – is Baihu Bhatt from Robinhood, free stock trading application, Rohan Sethhouse, APOORVA Mehta from Instacart, Dheeraj Pandey, Mohit Aron and Ajeet Singh of Nutanix, Arun Murthy and Srinivas Srinivas from Hortonworks, Aayush Phumbhra from Chegg, Gagan Biyani from Udemy, Dhiraj Rajaram from Mu Sigma.
Fractal Analytics, which changed Unicorn this year, was founded by Nirmal Palaparthi, Pradeep Suryanarayan, Pranay Agrawal, Ramakrishna Reddy and Srikanth Velifornia in California, as Mu Sigma, has most of the shipments from India.
Last year, the Mohandas investment company Pai 3One4 capital estimates that 67 of the 288 American Unicorn at that time had at least one founder of India-origin.
America has a very successful history of Indian entrepreneurs including Kanwal Rekhi, Pramod Haque, Kumar Malvalli, Sanjay Malhotra, Gururaj Deshpande, B V Jagadeesh, and Sabeer Bhatia.
Many of them may not build a business worth more than $ 1 billion, but there is indeed “Unicorn” at that time.
Four years ago, the US-based Kauffman Foundation estimates that 33.2% of the two founders of engineering and technology companies founded by immigrants in the US since 2006 were Indians.
The next highest is China, by 8.1%.
Another study conducted in 2007 for the period 1995 to 2005 has found that Indians contributed 26% of Co-Founders during that period.
Kauffman Foundation found that the contribution of Indian immigrants was the only increase; Most of the other immigrant communities have decreased their contributions, which lead to general stagnation in immigrant entrepreneurship in the US.
The Security Center and Emerging Technology (CSET), a policy research organization at the Georgetown University’s Walsh School of Foreign of Foreign, conducting research in 2020 to understand how immigration formed entrepreneurship AI (artificial intelligence) in the US.
The findings show that 33 of the top 50 AI companies have at least one founder of the first generation immigrants, and 53 of the 125 founders are first generation immigrants.
India and Israel are the largest sender of the founder of AI immigrants, followed by Britain, China and Portugal.