2.84M jobs: Indian unicorns fast-track growth

YourStory Research shows the 100 unicorns created over 2.50 million jobs for contractual and ancillary services providers, apart from 0.34 million full-time employment.

Hello Readers,

India’s startups have gained notoriety for a host of reasons—bloated valuations, founder tantrums, and so on—but there’s one area where they are a cut above many other sectors: job creation.

At a time when unemployment is becoming a hot issue, the Indian startup system is doing its bit by giving jobs to millions. More specifically, the 100 Unicorns of India have together provided a livelihood for a whopping 2.84 million people across the country.

YourStory Research shows that these unicorns created 0.34 million full-time jobs and 2.50 million jobs in ancillary areas like contractual employment, content creators, tutors, delivery partners, and drivers, among others.

That the unicorns are on the fast track is well-known. With a combined valuation of over $331 billion, and a cumulative fundraise of $62.9 billion, since 2011, the elite club of the Unicorns of India is growing at an unprecedented pace.

Even the pandemic did not deter their march, with 2021 seeing a record 44 startups being elevated to the billion-dollar valuation club. And the trend continued in 2022. Until early May, another 15 unicorns joined the club, taking the tally to 100.

At YourStory, we were early to see the tide rising and hence built Unicorns of India as the go-to place to get deeper insights around these unicorns, their growth, funding details, and more.

Editor’s Pick: How FMCG brand Jahagirdar Foods is staying relevant?

According to India Brand Equity Foundation (IBEF), fast-moving consumer goods (FMCG) is India’s fourth-largest sector, accounting for 50 percent of the sales in the country. However, the question remains - how are traditional FMCG brands staying relevant in the age of FMCG 2.0? 

To delve deeper into this, SMBStory spoke to Saloni Mayur Chindhade, Director of Jahagirdar Foods, launched in 1996 by her father Milind Jahagirdar. The Nashik-based FMCG company manufactures a host of products like biscuits, cookies, chocolates, premixes, namkeens, and more. Read more

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Before you go, stay inspired with… 

"Define who you aspire to be and then become that person." 

Vivek Mansingh, General Partner, YourNest VC Fund, and Author, Achieving Meaningful Success

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