Indian Institute of Technologies Stand 4th in the Global list for Producing Unicorn Founders a report by Sage, a U.K-based accounting software firm said this week.
IIT Stands at 4th position with 12 Founders. According to the report, 12 out of 189 founders of billion-dollar startups, known as unicorns, went to one of India’s 23 IITs.
Topping the table is Stanford boasting 51 unicorn founders as alumni, followed by Harvard with 37. US institutions account for 9 of the top 15 most popular universities amongst unicorn founders.
Within the various IITs, it is Delhi that produced the maximum unicorn founders. Sachin and Binny Bansal of Flipkart, Sanjay Sethi of ShopClues, Zomato founders Deepinder Goyal and Pankaj Chaddah, Snapdeal’s Rohit Bansal and Quikr’s Pranay Chulet and Jiby Thomas (now founder of Webbutterjam Digital) are all products of IIT Delhi.
Ola’s founders Bhavish Aggarwal and Ankit Bhati went to IIT Bombay.
Inmobi’s founders Naveen Tiwari, Abhay Singhal and Amit Gupta studied at IIT Kanpur while their co-founder Mohit Saxena went to IIT Roorkee.
As per Industry Experts, it was the rigour of the entrance exams and the competitive culture within the IITs that led to the creation of such companies, over the last 5-7 years, there has been a structured effort to foster unicorns.