top of page

The emerging war for start-up supremacy between India & China

Let's start by comparing the startup ecosystems between both countries.

# of Start-ups

China: 30 Mn

India: 80k


10,000 start-ups are formed in China every day!

# of Incubators

China: 11.8k

India: 520


China has the capacity to incubate 100x more start-ups, India can incubate 6200/ year

Here is where it gets interesting!

# of Unicorns

China: 206

India: 31


But, Indian start-ups have 56x more chances of success not only in terms of unicorn status but also in creating more jobs.


China has produced 1 unicorn for every 1.45L start-ups, India has produced 1 unicorn for every 2.5k start-ups.

Funds raised (2019)

China: $35.6B

India: $14.5B


But, Indian start-ups have raised 152x more per start-up, China has raised $1,186/ start-up and India has raised $181k/ start-up.

Investment growth (2019)

China: 60% decrease

India: 40% increase


Although $ terms investment in China is higher, investors might be wary of eco-system being too mature or even overvalued. Indian start-up eco-system is still early, making it more lucrative for investors globally (even Chinese origin ones, excluding the restrictions of course).

Summing up, the Indian start-up eco-system is efficient and ready to scale. All we need is stronger financial support internally and more mentorship.

Can we see another 100 unicorns by 2025 and maybe 10 decacorns?

*Fingers crossed*


see what we can
do for your organization

Business Roadmap Advisory
Strategic Finance Office
Investment Banking
Investment Banking
Mergers & Acquisition
bottom of page