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Indian Institutes of Technology emerged among the top four institutes which have produced the most unicorn founders or startups.

The Indian Institutes of Technology (IITs) bagged the fourth spot. US-based Stanford University claimed the top rank with 51 unicorn founders, followed by Harvard University with 37. The University of California came third with 18 unicorn founders and IIT followed with 12 founders.

Unicorns are startups with more than a billion-dollar valuation. India is home to 10 unicorn companies , making them the poster boys of the country's startup ecosystem. From e-commerce giants Flipkart, Snapdeal and ShopClues to cab aggregator Ola, restaurant aggregator Zomato, classified ads platform Quickr, digital payments company Paytm, mobile adtech player InMobi, messaging app Hike and analytics company Mu Sigma, these startups have grabbed spots in the elite club and almost all the founders have had stints at one of the IITs.

top  10 unicorn companies

ShopClues

Snapdeal

Flipkart

Ola Cabs

Zomato

Quickr

InMobi

Paytm

Mu Sigma

Hike

Among all the IITs, Indian Institute of Technology, Delhi has produced more unicorn founders. Indian Institute of Technology, Bombay, Kanpur and Roorkee also played a significant role in producing unicorn founders.

V.Ramgopal Rao, Director of IIT Delhi, revealed that IIT Delhi has a unique culture. The students there are more connected to the problems which are prevalent in the society. Therefore, they look for solutions and become entrepreneurs. Some of the experts from the industry indicated that it was the competition within the IITs that was the driving force behind the creation of more unicorn founders.

According to experts, the competitive culture within the IITs is the reason behind the creation of such companies. Infact, in the last few years, the institutes have made structured efforts to foster unicorns.

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