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22% of Indian Unicorns Started By Solo Entrepreneurs: Report

Updated: Apr 04, 2024 04:43:39pm

22% of Indian Unicorns Started By Solo Entrepreneurs: Report

New Delhi, Apr 4 (KNN) In the last decade, solo entrepreneurs or "solopreneurs" founded 22 per cent of Indian unicorns, while the remaining 78 per cent had two or more co-founders, according to a new analysis by PrivateCircle Research.

The report sheds light on some interesting trends in the Indian startup ecosystem.

The analysis found that 40 per cent of the solopreneur-led unicorns are in the fintech sector, including companies like CRED, Slice, GoDigit Insurance, and Acko.

Bengaluru emerged as the most preferred headquarters location for these solo founder unicorns over the past decade.

While success depends on various factors, the data suggests a higher win rate for startups with multiple co-founders.

Indian unicorns have an average of two founders, and co-founded unicorns generated 32 per cent higher average revenue (Rs 2,909 crore) compared to solo founder unicorns (Rs 2,196 crore).

"Investors prefer co-founder led companies on average," said Murali Loganathan, Director of Research at PrivateCircle.

Co-founded startups tend to raise more funding, likely due to their larger networks and combined expertise.

Starting up alone gives entrepreneurs full control and avoids equity dilution but can be isolating without someone to share ideas and stress.

Solopreneurs may also have more limited resources and growth opportunities compared to co-founded startups with larger networks.

However, some solopreneur unicorns have managed to raise large funding rounds, especially those based in Bengaluru.

Six solo founder unicorns have launched successful IPOs, while seven co-founded unicorns are publicly listed.

The choice between going solo or finding a co-founder remains a key decision for Indian entrepreneurs starting their journey.

Both paths have unique advantages and trade-offs when it comes to control, resources, funding prospects and overall success rates.

(KNN Bureau)


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