ZHENGZHOU, China, July 16, 2024--(BUSINESS WIRE)--During the 2024 Unicorn Enterprise Innovation and Development Conference on July 10, 2024, Great Wall Strategy Consultants released the "2024 World Unicorns Development Report," revealing key insights into the global unicorn landscape. According to the report, as of 2023, there are 1,201 unicorn startups worldwide, demonstrating robust vitality and innovative potential.

The report highlighted that out of the total unicorn count, 145 were newly minted in 2023, and 39 achieved decacorn status. The total valuation of global unicorns is an impressive US$3,451.9 billion, averaging US$2.9 billion per company. Newly minted unicorns in 2023 have a combined valuation of US$251 billion, with an average of US$1.7 billion each.

The United States and China are the dominant players in this landscape, accounting for over 70% of the total unicorns. The U.S. leads with 530 unicorns, followed by China with 375. Both countries' unicorns have a combined valuation exceeding one trillion dollars, representing nearly 80% of the global total.

The number of unicorns in China and the U.S. continues to grow. China has surpassed the United States with 72 newly minted unicorns compared to the U.S.'s 45. The total valuation of unicorn companies in the United States (US$1,481.4 billion) is higher than that in China (US$1,238.3 billion), while the average valuation in China is higher.

Significant differences exist in the distribution of unicorns in the industry verticals between China and the United States. The enterprise digital operations, FinTech, and digital health verticals account for over 40% of unicorn startups in the U.S. In contrast, semiconductors, clean energy, and revolutionary pharmaceuticals are the top three verticals in China.

Unicorn companies in the U.S. are more concentrated geographically, with half located in California, while nearly 70% of China's unicorns are concentrated in Beijing, Guangdong, Shanghai, Jiangsu, and Zhejiang.

Global unicorn financing in 2023 saw 310 unicorns raising US$83.6 billion, with China and the U.S. together accounting for 80% of this investment.

The report underscores the dynamic and evolving nature of the global unicorn ecosystem. These startups are not only driving technological innovation but also reshaping industries across the globe.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240714780493/en/

Contacts

Beijing Great Wall Enterprise Institute (GEI)
http://www.gei.com.cn/

Yang Yang
yangyang135@gei.com.cn