As of Q2 2023, the world is witnessing an unprecedented surge in the number of unicorn companies, with a staggering count of 1,225 enterprises boasting valuations exceeding $1 billion. To put this into perspective, the year 2018 concluded with a mere 399 such companies—a stark contrast to the current landscape.

Breaking down the numbers, North America leads the pack with 697 unicorn companies, followed closely by Asia with 463, of which China and India contribute significantly with 173 and 73 unicorns respectively. Europe boasts 165 unicorn companies, while South America, Oceania, and Africa trail behind with 24, 8, and 4 unicorns respectively.

Delving deeper into the valuation spectrum, notable names like ByteDance from China reign supreme with a valuation of $225 billion, followed by SpaceX from the United States at $137 billion. Other frontrunners include SHEIN ($66 billion, China), Stripe ($50 billion, United States), and Canva ($40 billion, Australia), among others.

Despite a 32% dip in global venture capital investment in 2022 compared to the previous year, the total investment still stood at an impressive $483 billion. The Americas continue to lead in terms of total VC investment, with the United States witnessing a significant increase from $149 billion in 2018 to $245 billion in 2022. Similarly, China saw a decrease from $108 billion in 2018 to $61 billion in 2022, while India experienced a rise from $13 billion to $25 billion during the same period.

Amidst discussions surrounding the "death of Silicon Valley," the reality paints a different picture. While there's certainly diversification and the emergence of new startup hubs, the essence of Silicon Valley remains intact. The key ingredients for successful ecosystems—access to talent, top universities, and capital—continue to drive innovation.

The rise of unicorn companies isn't limited to any single region; instead, it reflects the global proliferation of talent and capital. As ecosystems across Asia and other regions gain momentum and expertise, the landscape of unicorn companies evolves. Rather than signaling the demise of established hubs, this growth underscores the interconnectedness and resilience of the global startup ecosystem.

In conclusion, the global unicorn boom signifies not just the rise of individual companies but also the collective strength and adaptability of the global startup community. As new hubs emerge and existing ones thrive, the future promises continued growth and innovation on a global scale.

Global ecosystems ranked by VC investment

Top 10 countries for Venture capital investment in Q2 2023