Let's start by comparing the startup ecosystems between both countries.
# of Start-ups
China: 30 Mn
10,000 start-ups are formed in China every day!
# of Incubators
China has the capacity to incubate 100x more start-ups, India can incubate 6200/ year
Here is where it gets interesting!
# of Unicorns
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)
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?