Every second founder of Indian startups that turned a unicorn this year is an alumnus of one of four oldest Indian Institutes of Technology.
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Twenty-six startups entered the unicorn club this year till end-August with a valuation of $1 billion or more.
As many as 30 of the 58 founders of these are engineering graduates from the IITs of Delhi, Bombay, Kharagpur or Kanpur, according to a study conducted by EMA Partners. Including these 58, there are 153 unicorn founders in India and 65 of them are from these four IITs, according to the findings, shared exclusively with ET. India has 62 unicorns, including Swiggy, Byju's, Ola and Paytm. All IITs together have produced 78 of their founders.
Companies that turned unicorn this year with founders being graduate engineers from IITs include also BrowserStack, Bharatpe, Meesho, ShareChat and OfBusiness.
“The hard work, excellent alumni support and the thriving ecosystem have enabled the students to grow and convince investors to support them and convert their startups to unicorn companies,” said Chaudhuri of IIT Bombay.
The median age of unicorn founders during the time of the inception of the startup is 30 years — the youngest was aged 19 years and the oldest at 55 years. Most of the unicorns have one or two founders each, according to the EMA study.
Just 3% of the 153 founders are women. They include Divya Gokulnath (Byju’s), Falguni Nayar (Nykaa), Ruchi Kalra (OfBusiness), Saritha Katikaneni (Zenoti) and Gazal Kalra (Rivigo), according to the study.
Twenty-one of the unicorn founders have passed out from Indian Institutes of Management (IIMs) and 85 are postgraduates.